Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Average Rating of “Reduce” by Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been given a consensus recommendation of “Reduce” by the four analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.90.

Several analysts recently issued reports on ERIC shares. JPMorgan Chase & Co. boosted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research note on Monday, July 15th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% in the first quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock worth $1,047,000 after purchasing an additional 8,086 shares during the period. First Affirmative Financial Network raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the 1st quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 2,268 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the 2nd quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock worth $1,161,000 after acquiring an additional 120,072 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after acquiring an additional 584,201 shares in the last quarter. Finally, Diversified Trust Co bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $1,545,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 2.4 %

Shares of ERIC stock opened at $8.28 on Friday. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $8.62. The company has a market capitalization of $27.59 billion, a PE ratio of -8.36 and a beta of 0.83. The firm has a 50 day moving average price of $7.43 and a two-hundred day moving average price of $6.42. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

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.