Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Large Decrease in Short Interest

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 23,630,000 shares, a decline of 10.2% from the August 15th total of 26,320,000 shares. Based on an average daily trading volume, of 8,660,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.8% of the company’s shares are short sold.

Analysts Set New Price Targets

ERIC has been the subject of several research analyst reports. StockNews.com initiated coverage on Telefonaktiebolaget LM Ericsson (publ) in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Societe Generale upgraded Telefonaktiebolaget LM Ericsson (publ) from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Barclays lowered Telefonaktiebolaget LM Ericsson (publ) from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.06.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.2 %

NASDAQ:ERIC traded up $0.01 during trading hours on Monday, reaching $5.07. 3,505,173 shares of the stock were exchanged, compared to its average volume of 9,247,609. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.83 and a twelve month high of $6.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.13 and a quick ratio of 0.83. The firm has a 50 day moving average of $5.08 and a 200 day moving average of $5.29. The stock has a market cap of $16.95 billion, a PE ratio of 14.91, a PEG ratio of 7.95 and a beta of 0.57.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Friday, July 14th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.35% and a net margin of 4.29%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.12 billion. On average, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.31 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.082 per share. The ex-dividend date is Thursday, September 28th. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio is currently 50.00%.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Earnest Partners LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 28.3% during the 2nd quarter. Earnest Partners LLC now owns 301,705 shares of the communications equipment provider’s stock worth $1,644,000 after purchasing an additional 66,467 shares in the last quarter. BNP Paribas Arbitrage SNC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 426.3% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 131,034 shares of the communications equipment provider’s stock worth $714,000 after purchasing an additional 106,136 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 202.2% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock worth $291,000 after purchasing an additional 33,376 shares in the last quarter. Finally, SouthState Corp raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 1,099.9% in the 2nd quarter. SouthState Corp now owns 10,919 shares of the communications equipment provider’s stock valued at $60,000 after acquiring an additional 10,009 shares during the period. Institutional investors own 7.53% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Cloud Software and Services, Enterprise, and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.