Boothbay Fund Management LLC Raises Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Boothbay Fund Management LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 20.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,257,459 shares of the communications equipment provider’s stock after purchasing an additional 383,463 shares during the quarter. Telefonaktiebolaget LM Ericsson (publ) accounts for 0.5% of Boothbay Fund Management LLC’s holdings, making the stock its 29th biggest holding. Boothbay Fund Management LLC owned approximately 0.07% of Telefonaktiebolaget LM Ericsson (publ) worth $18,195,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 401.1% in the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock valued at $109,673,000 after acquiring an additional 10,891,451 shares in the last quarter. Sei Investments Co. grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% during the 4th quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock valued at $38,755,000 after acquiring an additional 1,705,246 shares during the period. National Bank of Canada FI purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $23,440,000. JPMorgan Chase & Co. raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider’s stock valued at $14,475,000 after buying an additional 638,393 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 196.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,177,361 shares of the communications equipment provider’s stock worth $9,490,000 after buying an additional 779,639 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.5 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.19 on Friday. The stock has a market cap of $27.29 billion, a price-to-earnings ratio of -819,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92. The company has a fifty day moving average price of $7.95 and a 200 day moving average price of $8.07. Telefonaktiebolaget LM Ericsson has a twelve month low of $5.00 and a twelve month high of $8.90. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. Equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ERIC. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th. Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Company 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.