Syon Capital LLC Has $912,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Syon Capital LLC lowered its position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 41.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,765 shares of the communications equipment provider’s stock after selling 101,340 shares during the period. Syon Capital LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $912,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ERIC. Planned Solutions Inc. bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $38,000. Dorsey & Whitney Trust CO LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock valued at $65,000 after acquiring an additional 3,201 shares during the period. 626 Financial LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $72,000. International Assets Investment Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $103,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $112,000. Institutional investors own 7.99% of the company’s stock.

Wall Street Analyst Weigh In

ERIC has been the subject of several research reports. TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. UBS Group cut Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. reduced their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Barclays cut Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Finally, StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock traded down $0.06 during midday trading on Friday, hitting $5.18. The stock had a trading volume of 8,648,027 shares, compared to its average volume of 17,697,436. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $5.36 and a 200 day simple moving average of $5.36. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. The firm had revenue of $6.76 billion during the quarter, compared to analyst estimates of $7.04 billion. During the same period in the prior year, the company posted $0.20 earnings per share. On average, analysts expect that Telefonaktiebolaget LM Ericsson will post 0.39 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) 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.