J P Morgan Chase & Co restated their hold rating on shares of Ericsson (NASDAQ:ERIC) in a research note released on Tuesday morning.

Several other brokerages have also commented on ERIC. Zacks Investment Research raised shares of Ericsson from a strong sell rating to a hold rating in a research report on Monday, July 17th. BidaskClub upgraded shares of Ericsson from a buy rating to a strong-buy rating in a report on Friday, July 14th. ValuEngine upgraded shares of Ericsson from a strong sell rating to a sell rating in a report on Friday, June 2nd. Bank of America Corporation reiterated a buy rating on shares of Ericsson in a report on Friday, June 2nd. Finally, Societe Generale initiated coverage on shares of Ericsson in a report on Wednesday, June 14th. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $5.95.

Shares of Ericsson (ERIC) remained flat at $6.29 during mid-day trading on Tuesday. The company had a trading volume of 10,620,120 shares. The stock’s market cap is $20.59 billion. Ericsson has a 52 week low of $4.83 and a 52 week high of $7.55.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. Ericsson had a negative net margin of 6.40% and a negative return on equity of 3.16%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. Equities analysts anticipate that Ericsson will post $0.26 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Suisse AG raised its position in shares of Ericsson by 912.8% in the first quarter. Credit Suisse AG now owns 4,542,361 shares of the communications equipment provider’s stock worth $30,161,000 after buying an additional 4,093,879 shares during the last quarter. FMR LLC raised its position in shares of Ericsson by 200.2% in the fourth quarter. FMR LLC now owns 4,483,260 shares of the communications equipment provider’s stock worth $26,137,000 after buying an additional 2,989,600 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Ericsson by 2.9% in the first quarter. Primecap Management Co. CA now owns 81,901,979 shares of the communications equipment provider’s stock worth $543,829,000 after buying an additional 2,290,675 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Ericsson during the first quarter worth $14,129,000. Finally, Dodge & Cox purchased a new position in shares of Ericsson during the fourth quarter worth $11,480,000. Institutional investors own 8.08% of the company’s stock.

About Ericsson

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.

Analyst Recommendations for Ericsson (NASDAQ:ERIC)

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