Tower Research Capital LLC TRC Increases Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Tower Research Capital LLC TRC raised its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 290.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,423 shares of the communications equipment provider's stock after purchasing an additional 36,768 shares during the quarter. Tower Research Capital LLC TRC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 401.1% in the 4th quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider's stock worth $109,673,000 after acquiring an additional 10,891,451 shares in the last quarter. National Bank of Canada FI purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $23,440,000. Sei Investments Co. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the 4th quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider's stock worth $38,755,000 after purchasing an additional 1,705,246 shares in the last quarter. Trexquant Investment LP purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $8,746,000. Finally, US Bancorp DE lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 434.2% during the 4th quarter. US Bancorp DE now owns 968,459 shares of the communications equipment provider's stock worth $7,806,000 after buying an additional 787,154 shares in the last quarter. Institutional investors own 7.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ERIC. JPMorgan Chase & Co. increased their price target on 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. Kepler Capital Markets raised Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock traded up $0.04 during trading hours on Tuesday, hitting $8.29. 4,777,838 shares of the company were exchanged, compared to its average volume of 18,365,169. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.22 and a 52-week high of $8.90. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $8.08. The stock has a market capitalization of $27.63 billion, a price-to-earnings ratio of -828,500.00, a P/E/G 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 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $5.68 billion for 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%. Research 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.