Syon Capital LLC Sells 101,340 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Syon Capital LLC lowered its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 41.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 32.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 574,164 shares of the communications equipment provider’s stock valued at $3,617,000 after buying an additional 140,462 shares during the period. Sequoia Financial Advisors LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 412.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after buying an additional 290,949 shares during the period. Ritholtz Wealth Management grew its position in Telefonaktiebolaget LM Ericsson (publ) by 9.9% during the fourth quarter. Ritholtz Wealth Management now owns 138,121 shares of the communications equipment provider’s stock valued at $870,000 after buying an additional 12,391 shares during the period. Legacy Wealth Asset Management LLC grew its position 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 valued at $601,000 after buying an additional 10,638 shares during the period. Finally, Institute for Wealth Management LLC. grew its position in Telefonaktiebolaget LM Ericsson (publ) by 75.3% during the fourth quarter. Institute for Wealth Management LLC. now owns 57,388 shares of the communications equipment provider’s stock valued at $362,000 after buying an additional 24,643 shares during the period. Institutional investors own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ERIC shares. UBS Group lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 31st. TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. Barclays lowered shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. cut their target price on shares of 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. Finally, StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two investment 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. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and a consensus price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.1 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.06 on Friday, reaching $5.18. The stock had a trading volume of 8,648,027 shares, compared to its average volume of 17,697,436. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $5.36 and its two-hundred day moving average is $5.36.

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