Forum Financial Management LP Increases Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Forum Financial Management LP grew its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 264.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,585 shares of the communications equipment provider's stock after acquiring an additional 199,171 shares during the period. Forum Financial Management LP's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $2,213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Michels Family Financial LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $663,000. Vise Technologies Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 70.6% in the fourth quarter. Vise Technologies Inc. now owns 60,120 shares of the communications equipment provider's stock worth $485,000 after purchasing an additional 24,883 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 21.2% in the fourth quarter. Two Sigma Advisers LP now owns 2,463,200 shares of the communications equipment provider's stock worth $19,853,000 after purchasing an additional 431,300 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.2% in the fourth quarter. Tidal Investments LLC now owns 32,681 shares of the communications equipment provider's stock worth $263,000 after purchasing an additional 2,484 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.3% in the fourth quarter. Quantinno Capital Management LP now owns 592,128 shares of the communications equipment provider's stock worth $4,773,000 after purchasing an additional 13,074 shares in the last quarter. Institutional investors own 7.99% of the company's stock.

Wall Street Analysts Forecast Growth

ERIC has been the subject of a number of analyst reports. Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Wall Street Zen upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. increased their target price on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research report on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.02 during midday trading on Tuesday, reaching $8.68. 23,296,930 shares of the stock traded hands, compared to its average volume of 19,208,602. The stock's fifty day moving average is $8.04 and its 200-day moving average is $8.09. Telefonaktiebolaget LM Ericsson has a 12 month low of $5.76 and a 12 month high of $9.00. The stock has a market cap of $28.93 billion, a P/E ratio of -868,000.00, a PEG ratio of 3.89 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. As a group, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 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.