Well Done LLC bought a new stake in shares of Ericsson (NASDAQ:ERIC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,048 shares of the communications equipment provider’s stock, valued at approximately $173,000.
Other large investors have also made changes to their positions in the company. Two Sigma Securities LLC acquired a new position in Ericsson during the 1st quarter valued at about $106,000. GenTrust LLC acquired a new position in Ericsson during the 2nd quarter valued at about $120,000. Boyd Watterson Asset Management LLC OH increased its position in Ericsson by 1.0% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock valued at $130,000 after buying an additional 174 shares in the last quarter. Ronald Blue & Co. LLC increased its position in Ericsson by 7.0% during the 2nd quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 1,283 shares in the last quarter. Finally, Advisor Group Inc. increased its position in Ericsson by 14.4% during the 2nd quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock valued at $143,000 after buying an additional 2,520 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the company. BidaskClub lowered Ericsson from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. BMO Capital Markets reissued a “hold” rating and issued a $6.00 price objective on shares of Ericsson in a report on Friday, October 20th. Canaccord Genuity cut their price objective on Ericsson from $5.75 to $5.25 and set a “hold” rating on the stock in a report on Monday, October 23rd. Credit Suisse Group lowered Ericsson from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $6.00 to $4.65 in a report on Tuesday, October 3rd. Finally, Cowen and Company lowered Ericsson to an “underperform” rating in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Ericsson has an average rating of “Hold” and an average target price of $5.34.
Ericsson (NASDAQ ERIC) traded down 0.565% during mid-day trading on Monday, reaching $6.165. The company had a trading volume of 1,890,791 shares. Ericsson has a 12 month low of $4.83 and a 12 month high of $7.47. The company’s market capitalization is $20.20 billion. The firm’s 50 day moving average price is $5.86 and its 200-day moving average price is $6.41.
Ericsson (NASDAQ:ERIC) last posted its earnings results on Friday, October 20th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.07). Ericsson had a negative net margin of 8.60% and a negative return on equity of 5.67%. The firm had revenue of $47.80 billion during the quarter, compared to analysts’ expectations of $47.21 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities research analysts anticipate that Ericsson will post $0.04 earnings per share for the current year.
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.
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