Parametric Portfolio Associates LLC increased its stake in Ericsson (NASDAQ:ERIC) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,167,532 shares of the communications equipment provider’s stock after purchasing an additional 54,557 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.10% of Ericsson worth $22,711,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Boyd Watterson Asset Management LLC OH raised its stake in Ericsson by 1.0% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock valued at $130,000 after purchasing an additional 174 shares in the last quarter. Greenleaf Trust lifted its position in Ericsson by 2.6% during the second quarter. Greenleaf Trust now owns 31,146 shares of the communications equipment provider’s stock worth $223,000 after purchasing an additional 797 shares during the period. Stephens Inc. AR lifted its position in Ericsson by 5.0% during the first quarter. Stephens Inc. AR now owns 25,964 shares of the communications equipment provider’s stock worth $172,000 after purchasing an additional 1,227 shares during the period. Ronald Blue & Co. LLC lifted its position in Ericsson by 7.0% during the second quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 1,283 shares during the period. Finally, Global X Management Co. LLC lifted its position in Ericsson by 1.2% during the first quarter. Global X Management Co. LLC now owns 166,784 shares of the communications equipment provider’s stock worth $1,107,000 after purchasing an additional 1,940 shares during the period. Institutional investors own 7.95% of the company’s stock.

A number of equities research analysts have issued reports on ERIC shares. BidaskClub downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Credit Suisse Group cut shares of Ericsson from a “neutral” rating to an “underperform” rating in a research report on Tuesday. Societe Generale began coverage on shares of Ericsson in a research report on Wednesday, June 14th. They issued a “hold” rating for the company. Canaccord Genuity reaffirmed a “neutral – hold” rating and set a $7.00 price target on shares of Ericsson in a report on Friday, June 30th. Finally, Zacks Investment Research raised shares of Ericsson from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Ericsson currently has a consensus rating of “Hold” and an average target price of $5.76.

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Ericsson (NASDAQ:ERIC) opened at 5.76 on Tuesday. Ericsson has a 52 week low of $4.83 and a 52 week high of $7.47.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). The company had revenue of $49.90 billion during the quarter, compared to the consensus estimate of $50.66 billion. Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. Analysts predict that Ericsson will post $0.11 earnings per share for the current fiscal year.

Ericsson Profile

Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.

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Institutional Ownership by Quarter for Ericsson (NASDAQ:ERIC)

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