Primecap Management Co. CA Lowers Holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Primecap Management Co. CA cut its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,781,999 shares of the communications equipment provider’s stock after selling 490,500 shares during the period. Primecap Management Co. CA’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $362,188,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock valued at $632,000 after acquiring an additional 1,777 shares during the last quarter. Profund Advisors LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock valued at $388,000 after acquiring an additional 1,823 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock valued at $87,000 after acquiring an additional 2,024 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 2,458 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 3,101 shares during the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.99 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62. The stock’s fifty day moving average price is $7.94 and its 200-day moving average price is $6.96.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. On average, analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) 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.