Harvest Fund Management Co. Ltd Invests $112,000 in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Harvest Fund Management Co. Ltd purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,910 shares of the communications equipment provider’s stock, valued at approximately $112,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Planned Solutions Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $38,000. Dorsey & Whitney Trust CO LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock worth $65,000 after acquiring an additional 3,201 shares in the last quarter. 626 Financial LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth about $72,000. International Assets Investment Management LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $103,000. Finally, Sapient Capital LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $121,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.8 %

ERIC opened at $5.24 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 1.22. The business has a 50 day moving average price of $5.36 and a 200 day moving average price of $5.36. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. During the same period in the previous year, the company earned $0.20 earnings per share. Research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

ERIC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Barclays downgraded Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, UBS Group cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.58.

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.