Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target Increased to $6.70 by Analysts at JPMorgan Chase & Co.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price target hoisted by analysts at JPMorgan Chase & Co. from $5.90 to $6.70 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 20.62% from the company’s previous close.

Separately, StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.7 %

Shares of NASDAQ ERIC traded down $0.06 on Monday, reaching $8.44. 6,507,026 shares of the company’s stock traded hands, compared to its average volume of 16,600,197. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $8.62. The business’s 50 day simple moving average is $7.46 and its two-hundred day simple moving average is $6.46. The company has a market cap of $28.13 billion, a price-to-earnings ratio of -8.57 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors have recently made changes to their positions in ERIC. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $506,000. NBC Securities Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after buying an additional 7,744 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.8% in the first quarter. Gateway Investment Advisers LLC now owns 46,340 shares of the communications equipment provider’s stock worth $255,000 after purchasing an additional 32,117 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the first quarter worth approximately $36,000. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 576,227 shares of the communications equipment provider’s stock worth $3,175,000 after purchasing an additional 10,935 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

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.