Gateway Investment Advisers LLC Trims Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Gateway Investment Advisers LLC reduced its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 30.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 590,725 shares of the communications equipment provider's stock after selling 260,470 shares during the quarter. Gateway Investment Advisers LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $4,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider's stock worth $109,673,000 after purchasing an additional 10,891,451 shares during the period. Millennium Management LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 234.6% in the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider's stock worth $54,364,000 after acquiring an additional 4,729,207 shares during the period. DigitalBridge Group Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 28.8% in the fourth quarter. DigitalBridge Group Inc. now owns 6,382,140 shares of the communications equipment provider's stock valued at $51,440,000 after acquiring an additional 1,427,386 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider's stock valued at $38,755,000 after acquiring an additional 1,705,246 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $23,440,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.2%

Shares of NASDAQ ERIC opened at $8.53 on Friday. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of -853,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.94. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.76 and a 52 week high of $9.00. The firm has a 50-day moving average price of $8.13 and a 200 day moving average price of $8.12. 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 issued its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

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.

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