Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target Raised to $6.70 at JPMorgan Chase & Co.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price target upped by JPMorgan Chase & Co. from $5.90 to $6.70 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the communications equipment provider’s stock.

Separately, StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and a consensus target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.0 %

ERIC opened at $8.50 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $8.62. The firm’s fifty day moving average is $7.56 and its 200 day moving average is $6.52. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of -8.59 and a beta of 0.83.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Large investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $506,000. NBC Securities Inc. increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 7,744 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 46,340 shares of the communications equipment provider’s stock valued at $255,000 after purchasing an additional 32,117 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the first quarter worth $36,000. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1.9% during the first quarter. Azzad Asset Management Inc. ADV now owns 576,227 shares of the communications equipment provider’s stock worth $3,175,000 after buying an additional 10,935 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

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.