XTX Topco Ltd Buys New Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

XTX Topco Ltd purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 3rd quarter, Holdings Channel reports. The firm purchased 369,389 shares of the communications equipment provider’s stock, valued at approximately $2,800,000.

A number of other institutional investors also recently made changes to their positions in ERIC. GAMMA Investing LLC boosted its position in 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 worth $34,000 after acquiring an additional 3,101 shares during the last quarter. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $41,000. Hexagon Capital Partners LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 2,458 shares during the period. Finally, Vest Financial LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at $77,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ:ERIC opened at $8.33 on Friday. The business has a 50-day moving average of $8.09 and a two-hundred day moving average of $7.16. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The firm had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.73 billion. On average, analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on ERIC. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.70.

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.