Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC decreased its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 23.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,814 shares of the communications equipment provider’s stock after selling 30,455 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at $36,000. NBC Securities Inc. lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 7,744 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $64,000. Finally, Williams & Novak LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth about $76,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. raised their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock opened at $6.87 on Thursday. The company has a 50 day moving average price of $6.40 and a 200-day moving average price of $5.78. The firm has a market capitalization of $22.90 billion, a PE ratio of -6.94 and a beta of 0.84. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $6.96. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. As a group, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.35 earnings per share for the current year.

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.