NorthCrest Asset Manangement LLC Cuts Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

NorthCrest Asset Manangement LLC reduced its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 4.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 81,999 shares of the communications equipment provider’s stock after selling 3,450 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $636,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ERIC. Minot DeBlois Advisors LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $35,000. GeoWealth Management LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $36,000. Smartleaf Asset Management LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock valued at $40,000 after purchasing an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $77,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $81,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ERIC. Wall Street Zen raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 17th. JPMorgan Chase & Co. raised their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Finally, Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 16th.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 1.4%

Shares of ERIC opened at $8.38 on Friday. The company has a market cap of $27.93 billion, a PE ratio of -838,000.00, a P/E/G ratio of 3.89 and a beta of 0.94. The business has a fifty day moving average of $8.26 and a 200 day moving average of $8.13. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.79 and a 52-week high of $9.00. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $55.83 billion. On average, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS 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.