Arlington Capital Management Inc. Takes $126,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Arlington Capital Management Inc. bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,000 shares of the communications equipment provider’s stock, valued at approximately $126,000.

A number of other hedge funds have also recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC grew its stake in 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 worth $65,000 after purchasing an additional 3,201 shares in the last quarter. First Affirmative Financial Network grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 22.0% in the fourth quarter. First Affirmative Financial Network now owns 24,086 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 4,351 shares in the last quarter. Planned Solutions Inc. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $38,000. Legacy Wealth Asset Management LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 12.6% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 95,377 shares of the communications equipment provider’s stock worth $601,000 after buying an additional 10,638 shares during the period. Finally, 626 Financial LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $72,000. Institutional investors own 7.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ERIC. TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a report on Tuesday, January 9th. UBS Group lowered Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, January 31st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. 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 note on Wednesday, April 17th. Finally, Barclays lowered Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC stock traded down $0.04 during midday trading on Wednesday, reaching $5.26. The stock had a trading volume of 6,223,483 shares, compared to its average volume of 17,303,691. The firm has a fifty day simple moving average of $5.32 and a two-hundred day simple moving average of $5.40. The stock has a market cap of $17.52 billion, a PE ratio of -7.51 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 1.22. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) 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.