Cambridge Investment Research Advisors Inc. Lowers Stake in Ericsson (NASDAQ:ERIC)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Ericsson (NASDAQ:ERIC) by 8.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,035 shares of the communications equipment provider’s stock after selling 1,897 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Ericsson were worth $163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in shares of Ericsson by 0.9% during the 1st quarter. SG Americas Securities LLC now owns 158,085 shares of the communications equipment provider’s stock valued at $1,227,000 after purchasing an additional 1,339 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Ericsson by 18.9% during the 1st quarter. Fulton Bank N.A. now owns 15,045 shares of the communications equipment provider’s stock valued at $117,000 after purchasing an additional 2,388 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Ericsson by 8.2% during the 4th quarter. Tidal Investments LLC now owns 32,681 shares of the communications equipment provider’s stock valued at $263,000 after purchasing an additional 2,484 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Ericsson by 3.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 75,812 shares of the communications equipment provider’s stock valued at $611,000 after purchasing an additional 2,763 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Ericsson by 21.0% during the 1st quarter. Merit Financial Group LLC now owns 16,079 shares of the communications equipment provider’s stock valued at $125,000 after purchasing an additional 2,792 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Ericsson Stock Performance

Shares of ERIC stock opened at $7.84 on Tuesday. The firm has a market capitalization of $26.25 billion, a price-to-earnings ratio of 156.80, a price-to-earnings-growth ratio of 5.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.88. The business has a fifty day moving average of $8.44 and a 200 day moving average of $8.15. Ericsson has a 1 year low of $6.41 and a 1 year high of $9.00.

Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. Ericsson had a return on equity of 16.45% and a net margin of 0.67%. As a group, research analysts expect that Ericsson will post 0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

ERIC has been the subject of several analyst reports. Wall Street Zen upgraded Ericsson from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 17th. Kepler Capital Markets upgraded Ericsson from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on Ericsson from $8.90 to $9.80 and gave the stock a “neutral” rating in a research note on Friday, April 11th.

Ericsson 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.