Baron Wealth Management LLC Acquires New Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Baron Wealth Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 15,162 shares of the communications equipment provider’s stock, valued at approximately $122,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ERIC. FMR LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock valued at $18,287,000 after buying an additional 463,415 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% in the third quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock worth $8,658,000 after purchasing an additional 73,320 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 35.9% during the third quarter. Gateway Investment Advisers LLC now owns 857,213 shares of the communications equipment provider’s stock worth $6,498,000 after purchasing an additional 226,672 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Telefonaktiebolaget LM Ericsson (publ) by 35.9% in the third quarter. Quantinno Capital Management LP now owns 579,054 shares of the communications equipment provider’s stock valued at $4,389,000 after purchasing an additional 153,084 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ERIC. StockNews.com downgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on 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.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 1.4 %

NASDAQ:ERIC opened at $7.59 on Thursday. The firm’s fifty day moving average price is $8.21 and its two-hundred day moving average price is $7.74. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. On average, analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current year.

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.