Earnest Partners LLC lessened its position in shares of Ericsson (NASDAQ:ERIC) by 34.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 369,338 shares of the communications equipment provider’s stock after selling 194,589 shares during the quarter. Earnest Partners LLC’s holdings in Ericsson were worth $2,124,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ERIC. Morgan Stanley increased its position in Ericsson by 113.3% during the 1st quarter. Morgan Stanley now owns 210,410 shares of the communications equipment provider’s stock valued at $1,397,000 after purchasing an additional 111,753 shares during the period. US Bancorp DE increased its position in Ericsson by 9.8% during the 2nd quarter. US Bancorp DE now owns 55,888 shares of the communications equipment provider’s stock valued at $401,000 after purchasing an additional 4,967 shares during the period. NGAM Advisors L.P. increased its position in Ericsson by 2.6% during the 2nd quarter. NGAM Advisors L.P. now owns 156,756 shares of the communications equipment provider’s stock valued at $1,124,000 after purchasing an additional 4,040 shares during the period. Wetherby Asset Management Inc. increased its position in Ericsson by 6.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 43,345 shares of the communications equipment provider’s stock valued at $311,000 after purchasing an additional 2,758 shares during the period. Finally, SG Americas Securities LLC increased its position in Ericsson by 34.1% during the 2nd quarter. SG Americas Securities LLC now owns 480,170 shares of the communications equipment provider’s stock valued at $3,443,000 after purchasing an additional 122,147 shares during the period. 8.08% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on ERIC. Canaccord Genuity decreased their target price on shares of Ericsson from $5.75 to $5.25 and set a “hold” rating for the company in a research report on Monday, October 23rd. BMO Capital Markets reissued a “hold” rating and set a $6.00 target price on shares of Ericsson in a research report on Friday, October 20th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Ericsson in a research report on Saturday, August 26th. Credit Suisse Group downgraded shares of Ericsson from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $6.00 to $4.65 in a research report on Tuesday, October 3rd. Finally, ValuEngine raised shares of Ericsson from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Ericsson has a consensus rating of “Hold” and a consensus target price of $5.34.

Shares of Ericsson (ERIC) opened at $6.39 on Wednesday. Ericsson has a 52-week low of $5.52 and a 52-week 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.

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

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Ericsson 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.

Institutional Ownership by Quarter for Ericsson (NASDAQ:ERIC)

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