Contravisory Investment Management Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,689 shares of the communications equipment provider’s stock, valued at approximately $52,000.

Several other large investors have also made changes to their positions in ERIC. Advisors Asset Management Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $42,000. Two Sigma Investments LP purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $94,000. Private Advisor Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $110,000. First Allied Advisory Services Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $125,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $152,000. 7.73% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on ERIC. Zacks Investment Research downgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 14th. BidaskClub downgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Raymond James raised Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 20th. Finally, ValuEngine raised Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $8.54.

Shares of Telefonaktiebolaget LM Ericsson stock opened at $9.62 on Wednesday. Telefonaktiebolaget LM Ericsson has a twelve month low of $6.23 and a twelve month high of $9.89. The firm has a market capitalization of $32.27 billion, a P/E ratio of 320.67, a PEG ratio of 0.72 and a beta of 0.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.19 and a current ratio of 1.45.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Friday, January 25th. The communications equipment provider reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.22). Telefonaktiebolaget LM Ericsson had a negative net margin of 2.91% and a positive return on equity of 1.32%. The firm had revenue of $63.80 billion during the quarter, compared to analyst estimates of $61.50 billion. During the same quarter in the previous year, the business posted ($1.19) EPS. Telefonaktiebolaget LM Ericsson’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.32 EPS for the current year.

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Telefonaktiebolaget LM Ericsson Profile

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.

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

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