Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Share Price Crosses Above 200-Day Moving Average of $5.26

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.26 and traded as high as $5.47. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $5.42, with a volume of 11,861,266 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ERIC. TheStreet raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research note on Tuesday, January 9th. JPMorgan Chase & Co. cut shares of Telefonaktiebolaget LM Ericsson (publ) from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.80 to $5.90 in a research note on Thursday, November 30th. Barclays cut shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Jefferies Financial Group raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Finally, UBS Group cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.90.

View Our Latest Analysis on Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

The stock has a market capitalization of $18.05 billion, a price-to-earnings ratio of -7.42 and a beta of 0.77. The stock’s 50 day moving average is $5.79 and its 200 day moving average is $5.26. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) last released its earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.82% and a positive return on equity of 11.77%. During the same period in the prior year, the firm earned $0.20 EPS. On average, analysts predict that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 3.1% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock valued at $921,604,000 after acquiring an additional 4,351,420 shares in the last quarter. FIL Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $6,930,000. Oppenheimer & Co. Inc. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after acquiring an additional 819,083 shares in the last quarter. Voloridge Investment Management LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 33.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,148,737 shares of the communications equipment provider’s stock valued at $13,537,000 after acquiring an additional 540,022 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 412.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after acquiring an additional 290,949 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

(Get Free Report)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Cloud Software and Services, Enterprise, and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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