Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Hits New 12-Month Low at $5.12

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $5.12 and last traded at $5.13, with a volume of 2382497 shares trading hands. The stock had previously closed at $5.22.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ERIC shares. StockNews.com started coverage on Telefonaktiebolaget LM Ericsson (publ) in a research note on Thursday, May 18th. They set a “hold” rating for the company. DNB Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Thursday, March 30th. Finally, Raymond James downgraded Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 7th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has a consensus rating of “Hold” and an average target price of $59.95.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.4 %

The company has a quick ratio of 0.83, a current ratio of 1.13 and a debt-to-equity ratio of 0.18. The company has a market cap of $17.12 billion, a PE ratio of 10.28 and a beta of 0.58. The stock has a 50-day moving average of $5.47 and a 200-day moving average of $5.75.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of large investors have recently added to or reduced their stakes in ERIC. BNP Paribas Arbitrage SNC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 57.3% during the first quarter. BNP Paribas Arbitrage SNC now owns 24,898 shares of the communications equipment provider’s stock valued at $146,000 after purchasing an additional 9,067 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 202.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock valued at $291,000 after purchasing an additional 33,376 shares in the last quarter. Earnest Partners LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 10.1% during the fourth quarter. Earnest Partners LLC now owns 235,231 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 21,523 shares in the last quarter. George Kaiser Family Foundation raised its position in Telefonaktiebolaget LM Ericsson (publ) by 16.1% during the third quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock valued at $1,646,000 after purchasing an additional 39,876 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at about $1,847,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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Telefonaktiebolaget LM Ericsson engages in the provision of telecommunications equipment and related services to mobile and fixed network operators. It operates through the following segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment supports all radio-access technologies and offers hardware, software and related services for both radio access and transport.