First Trust Advisors LP Grows Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

First Trust Advisors LP grew its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 834,087 shares of the communications equipment provider’s stock after buying an additional 41,851 shares during the quarter. First Trust Advisors LP’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $6,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the 4th quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock worth $109,673,000 after acquiring an additional 10,891,451 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $23,440,000. Sei Investments Co. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% during the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock valued at $38,755,000 after purchasing an additional 1,705,246 shares in the last quarter. Trexquant Investment LP purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $8,746,000. Finally, US Bancorp DE raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 434.2% in the fourth quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider’s stock worth $7,806,000 after buying an additional 787,154 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $8.30 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The firm has a market cap of $27.66 billion, a PE ratio of -830,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a 12 month low of $5.00 and a 12 month high of $8.90. The stock has a fifty day moving average price of $7.96 and a 200-day moving average price of $8.08.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target 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 upgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) 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.