Michels Family Financial LLC Buys New Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Michels Family Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 82,217 shares of the communications equipment provider's stock, valued at approximately $663,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $35,000. GeoWealth Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after purchasing an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth $77,000. Finally, Valeo Financial Advisors LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $81,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ERIC. Kepler Capital Markets raised 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 report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a research note on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.2%

Shares of NASDAQ ERIC traded up $0.02 during mid-day trading on Tuesday, hitting $8.68. The stock had a trading volume of 23,296,930 shares, compared to its average volume of 19,208,602. The business has a 50 day moving average price of $8.04 and a two-hundred day moving average price of $8.09. Telefonaktiebolaget LM Ericsson has a 1 year low of $5.76 and a 1 year high of $9.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The firm has a market cap of $28.93 billion, a P/E ratio of -868,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.96.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $5.68 billion for 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%. On average, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal 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.