Parametrica Management Ltd Invests $173,000 in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Parametrica Management Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,763 shares of the communications equipment provider’s stock, valued at approximately $173,000.

A number of other hedge funds have also modified their holdings of ERIC. GAMMA Investing LLC lifted its stake 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 buying an additional 3,101 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter worth about $36,000. BOKF NA acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $41,000. Finally, Vest Financial LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth $77,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ ERIC traded down $0.07 during midday trading on Wednesday, hitting $8.01. 3,818,114 shares of the company’s stock were exchanged, compared to its average volume of 16,633,830. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.75 and a twelve month high of $8.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The firm has a market cap of $26.69 billion, a P/E ratio of -269.33 and a beta of 0.81. The stock’s 50 day moving average price is $7.86 and its 200-day moving average price is $6.85.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

ERIC has been the subject of a number of recent analyst reports. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and a consensus price target of $6.70.

About Telefonaktiebolaget LM Ericsson (publ)

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.