Capital Fund Management S.A. Acquires 329,216 Shares of Ericsson $ERIC

Capital Fund Management S.A. boosted its holdings in Ericsson (NASDAQ:ERIC) by 86.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 711,557 shares of the communications equipment provider’s stock after acquiring an additional 329,216 shares during the quarter. Capital Fund Management S.A.’s holdings in Ericsson were worth $5,522,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ERIC. Federated Hermes Inc. bought a new position in Ericsson in the 1st quarter worth about $27,000. Pinnacle Bancorp Inc. bought a new position in Ericsson in the 1st quarter worth about $31,000. Minot DeBlois Advisors LLC bought a new position in Ericsson in the 4th quarter worth about $35,000. GeoWealth Management LLC bought a new position in Ericsson in the 4th quarter worth about $36,000. Finally, Wallace Advisory Group LLC bought a new position in Ericsson in the 1st quarter worth about $90,000. 7.99% of the stock is currently owned by institutional investors.

Ericsson Price Performance

Shares of Ericsson stock opened at $7.93 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $26.55 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 12.31 and a beta of 0.85. The business’s 50-day moving average price is $7.85 and its 200-day moving average price is $8.03. Ericsson has a 12 month low of $6.64 and a 12 month high of $8.99.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 15th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Ericsson had a return on equity of 21.17% and a net margin of 7.06%.The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $60.54 billion. During the same period in the prior year, the company earned ($3.34) EPS. The company’s revenue was down 6.2% on a year-over-year basis. Sell-side analysts forecast that Ericsson will post 0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Ericsson from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.80.

Ericsson Company Profile

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.