Virtu Financial LLC Takes $601,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Virtu Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 79,259 shares of the communications equipment provider’s stock, valued at approximately $601,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock worth $83,788,000 after acquiring an additional 13,531,221 shares in the last quarter. Hsbc Holdings PLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at $17,940,000. Two Sigma Advisers LP boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock worth $15,402,000 after purchasing an additional 2,020,200 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $11,869,000. Finally, DigitalBridge Group Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after buying an additional 785,261 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ERIC has been the topic of a number of research analyst reports. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has a consensus rating of “Hold” and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.9 %

ERIC stock opened at $8.30 on Friday. The business has a fifty day moving average of $8.19 and a 200-day moving average of $7.27. The company has a market cap of $27.66 billion, a P/E ratio of -276.67 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) 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.