FIL Ltd Invests $2.33 Million in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

FIL Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 253,584 shares of the communications equipment provider’s stock, valued at approximately $2,328,000.

Several other institutional investors also recently made changes to their positions in ERIC. Bank of Montreal Can grew its stake in shares of Telefonaktiebolaget LM Ericsson by 6.0% during the fourth quarter. Bank of Montreal Can now owns 78,177 shares of the communications equipment provider’s stock worth $693,000 after buying an additional 4,395 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter worth $42,000. BB&T Securities LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter worth $285,000. Rational Advisors LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter worth $727,000. Finally, Apertura Capital LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter worth $3,548,000.

Shares of Telefonaktiebolaget LM Ericsson stock opened at $9.60 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. Telefonaktiebolaget LM Ericsson has a twelve month low of $7.38 and a twelve month high of $10.46. The firm has a market capitalization of $32.47 billion, a P/E ratio of 88.54 and a beta of 0.53.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Wednesday, April 17th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Telefonaktiebolaget LM Ericsson had a negative net margin of 1.46% and a positive return on equity of 3.79%. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48.35 billion. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Telefonaktiebolaget LM Ericsson’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current fiscal year.

A number of analysts have weighed in on ERIC shares. Zacks Investment Research cut shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 14th. ValuEngine raised shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. BidaskClub raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Cowen reissued a “hold” rating and issued a $10.00 price objective on shares of Telefonaktiebolaget LM Ericsson in a research note on Sunday, April 21st. Finally, Bank of America raised shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “buy” rating and set a $9.85 price objective on the stock in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.77.

ILLEGAL ACTIVITY WARNING: “FIL Ltd Invests $2.33 Million in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2019/06/14/fil-ltd-invests-2-33-million-in-telefonaktiebolaget-lm-ericsson-nasdaqeric.html.

About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

Featured Story: The mechanics of the bid-ask spread in trading

Want to see what other hedge funds are holding ERIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC).

Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Receive News & Ratings for Telefonaktiebolaget LM Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonaktiebolaget LM Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.