Syon Capital LLC Lowers Stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Syon Capital LLC cut its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 52.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,418 shares of the communications equipment provider's stock after selling 99,938 shares during the quarter. Syon Capital LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $737,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GeoWealth Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $36,000. Smartleaf Asset Management LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock worth $40,000 after acquiring an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $77,000. Valeo Financial Advisors LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $81,000. Finally, Diametric Capital LP bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $85,000. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.7 %

ERIC stock traded up $0.06 during trading on Tuesday, hitting $8.30. 17,112,054 shares of the stock traded hands, compared to its average volume of 18,247,404. The firm's 50 day moving average is $7.95 and its two-hundred day moving average is $8.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The stock has a market cap of $27.64 billion, a price-to-earnings ratio of -829,500.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a 1 year low of $5.00 and a 1 year high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The firm had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $55.83 billion. On average, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th.

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.