Bayesian Capital Management LP Purchases New Shares in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Bayesian Capital Management LP acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 105,400 shares of the communications equipment provider’s stock, valued at approximately $850,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $182,000. BNP Paribas Financial Markets lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.7% in the 4th quarter. BNP Paribas Financial Markets now owns 1,328,099 shares of the communications equipment provider’s stock valued at $10,704,000 after purchasing an additional 848,205 shares during the last quarter. Jane Street Group LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 60.9% in the fourth quarter. Jane Street Group LLC now owns 1,121,197 shares of the communications equipment provider’s stock worth $9,037,000 after purchasing an additional 424,423 shares in the last quarter. Northern Trust Corp increased its position in Telefonaktiebolaget LM Ericsson (publ) by 41.4% during the fourth quarter. Northern Trust Corp now owns 1,771,321 shares of the communications equipment provider’s stock worth $14,277,000 after buying an additional 519,029 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 20.5% during the fourth quarter. Boothbay Fund Management LLC now owns 2,257,459 shares of the communications equipment provider’s stock valued at $18,195,000 after buying an additional 383,463 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ERIC. JPMorgan Chase & Co. increased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday, April 11th. Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.1 %

Shares of ERIC stock opened at $8.25 on Tuesday. The company has a market capitalization of $27.49 billion, a P/E ratio of -825,000.00, a P/E/G ratio of 3.89 and a beta of 0.96. Telefonaktiebolaget LM Ericsson has a 12-month low of $5.22 and a 12-month high of $8.90. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $7.97 and a 200 day moving average price of $8.08.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. Research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

About Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.