Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Hits New 12-Month Low at $5.12

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.12 and last traded at $5.13, with a volume of 2382497 shares. The stock had previously closed at $5.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. DNB Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Thursday, March 30th. Raymond James lowered shares of Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 7th. Finally, StockNews.com initiated coverage on shares of Telefonaktiebolaget LM Ericsson (publ) in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and an average target price of $59.95.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.4 %

The firm has a market cap of $17.12 billion, a price-to-earnings ratio of 10.28 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $5.47 and a 200-day moving average price of $5.75.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 57.3% in the first quarter. BNP Paribas Arbitrage SNC now owns 24,898 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 9,067 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 202.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock valued at $291,000 after purchasing an additional 33,376 shares during the period. Earnest Partners LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.1% during the fourth quarter. Earnest Partners LLC now owns 235,231 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 21,523 shares during the period. George Kaiser Family Foundation increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.1% during the third quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock valued at $1,646,000 after purchasing an additional 39,876 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at $1,847,000. 7.94% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

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Telefonaktiebolaget LM Ericsson engages in the provision of telecommunications equipment and related services to mobile and fixed network operators. It operates through the following segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment supports all radio-access technologies and offers hardware, software and related services for both radio access and transport.