Traders Purchase Large Volume of Telefonaktiebolaget LM Ericsson Put Options (ERIC)

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was the recipient of unusually large options trading on Friday. Investors purchased 1,238 put options on the stock. This is an increase of 1,508% compared to the typical volume of 77 put options.

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ ERIC) opened at $7.02 on Monday. Telefonaktiebolaget LM Ericsson has a one year low of $5.52 and a one year high of $7.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.72. The firm has a market capitalization of $23,405.73, a PE ratio of -11.51, a PEG ratio of 29.51 and a beta of 1.10.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Friday, October 20th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.07). Telefonaktiebolaget LM Ericsson had a negative return on equity of 5.67% and a negative net margin of 8.60%. The firm had revenue of $47.80 billion for the quarter, compared to analysts’ expectations of $47.21 billion. During the same period last year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post -0.13 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. M&T Bank Corp raised its stake in shares of Telefonaktiebolaget LM Ericsson by 3.7% during the 2nd quarter. M&T Bank Corp now owns 65,391 shares of the communications equipment provider’s stock worth $468,000 after purchasing an additional 2,326 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Telefonaktiebolaget LM Ericsson by 14.4% during the 2nd quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock valued at $143,000 after acquiring an additional 2,520 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Telefonaktiebolaget LM Ericsson by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 96,675 shares of the communications equipment provider’s stock valued at $693,000 after acquiring an additional 2,891 shares during the last quarter. First Allied Advisory Services Inc. increased its holdings in shares of Telefonaktiebolaget LM Ericsson by 14.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 24,841 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 3,064 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Telefonaktiebolaget LM Ericsson by 3.6% during the 2nd quarter. Stifel Financial Corp now owns 121,061 shares of the communications equipment provider’s stock valued at $875,000 after acquiring an additional 4,152 shares during the last quarter. 8.07% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on ERIC shares. Canaccord Genuity reduced their price objective on Telefonaktiebolaget LM Ericsson from $6.00 to $5.25 and set a “hold” rating for the company in a research note on Friday, September 22nd. Cowen downgraded Telefonaktiebolaget LM Ericsson to an “underperform” rating in a research note on Thursday, October 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $6.00 price target on shares of Telefonaktiebolaget LM Ericsson in a research note on Friday, October 20th. Zacks Investment Research raised Telefonaktiebolaget LM Ericsson from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Credit Suisse Group downgraded Telefonaktiebolaget LM Ericsson from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $6.00 to $4.65 in a research note on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Telefonaktiebolaget LM Ericsson currently has an average rating of “Hold” and a consensus target price of $5.59.

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Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.

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