Amundi Has $3.73 Million Stock Position in Ericsson $ERIC

Amundi lifted its position in Ericsson (NASDAQ:ERIC) by 10.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 498,887 shares of the communications equipment provider’s stock after purchasing an additional 48,692 shares during the period. Amundi’s holdings in Ericsson were worth $3,732,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Aprio Wealth Management LLC raised its stake in Ericsson by 48.0% during the 1st quarter. Aprio Wealth Management LLC now owns 47,331 shares of the communications equipment provider’s stock valued at $367,000 after purchasing an additional 15,356 shares during the last quarter. Vident Advisory LLC grew its position in Ericsson by 26.3% in the 1st quarter. Vident Advisory LLC now owns 147,112 shares of the communications equipment provider’s stock worth $1,142,000 after purchasing an additional 30,660 shares during the last quarter. Trexquant Investment LP grew its position in Ericsson by 52.4% in the 1st quarter. Trexquant Investment LP now owns 1,653,514 shares of the communications equipment provider’s stock worth $12,831,000 after purchasing an additional 568,382 shares during the last quarter. Jane Street Group LLC grew its position in Ericsson by 113.0% in the 1st quarter. Jane Street Group LLC now owns 2,387,985 shares of the communications equipment provider’s stock worth $18,531,000 after purchasing an additional 1,266,788 shares during the last quarter. Finally, Compound Planning Inc. grew its position in Ericsson by 3.2% in the 1st quarter. Compound Planning Inc. now owns 41,540 shares of the communications equipment provider’s stock worth $322,000 after purchasing an additional 1,288 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ERIC. BNP Paribas restated an “underperform” rating on shares of Ericsson in a research report on Wednesday, September 3rd. Wall Street Zen upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $9.80.

Ericsson Trading Up 1.1%

Shares of ERIC stock opened at $8.05 on Friday. Ericsson has a 52-week low of $6.64 and a 52-week high of $8.99. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 12.74 and a beta of 0.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 1.09. The firm has a fifty day moving average of $7.72 and a 200-day moving average of $8.04.

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

About Ericsson

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.