XTX Topco Ltd Has $731,000 Stake in Ericsson (NASDAQ:ERIC)

XTX Topco Ltd trimmed its holdings in shares of Ericsson (NASDAQ:ERIC - Free Report) by 36.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,142 shares of the communications equipment provider's stock after selling 54,942 shares during the period. XTX Topco Ltd's holdings in Ericsson were worth $731,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of Ericsson in the 1st quarter valued at $27,000. Pinnacle Bancorp Inc. acquired a new stake in Ericsson during the 1st quarter worth about $31,000. Minot DeBlois Advisors LLC acquired a new stake in Ericsson during the 4th quarter worth about $35,000. GeoWealth Management LLC acquired a new stake in Ericsson during the 4th quarter worth about $36,000. Finally, Wallace Advisory Group LLC acquired a new stake in shares of Ericsson during the 1st quarter valued at about $90,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Ericsson Stock Performance

Shares of ERIC stock traded up $0.05 during trading on Friday, reaching $7.55. The company had a trading volume of 3,932,283 shares, compared to its average volume of 21,723,348. The firm's 50 day simple moving average is $8.03 and its two-hundred day simple moving average is $8.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.86. Ericsson has a one year low of $6.64 and a one year high of $8.99. The company has a market capitalization of $25.26 billion, a PE ratio of 15.09, a PEG ratio of 11.83 and a beta of 0.85.

Ericsson (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $60.54 billion. Ericsson had a return on equity of 21.17% and a net margin of 7.06%. The firm's revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned ($3.34) EPS. Sell-side analysts forecast that Ericsson will post 0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ERIC. Wall Street Zen upgraded Ericsson from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. lifted their price target on Ericsson from $8.90 to $9.80 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, Kepler Capital Markets upgraded Ericsson from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th.

Ericsson 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.