Versant Capital Management Inc Raises Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Versant Capital Management Inc boosted its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 2,188.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,606 shares of the communications equipment provider's stock after buying an additional 34,050 shares during the quarter. Versant Capital Management Inc's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth 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 increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after buying an additional 2,840 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $77,000. Finally, Valeo Financial Advisors LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at approximately $81,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ERIC. 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. Wall Street Zen upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Finally, Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock traded down $0.05 during trading hours on Tuesday, reaching $8.50. The company had a trading volume of 20,224,229 shares, compared to its average volume of 19,249,424. The firm has a market cap of $28.33 billion, a PE ratio of -850,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.96. The business has a fifty day moving average price of $8.08 and a 200-day moving average price of $8.11. Telefonaktiebolaget LM Ericsson has a one year low of $5.76 and a one 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.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share 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.