Ericsson $ERIC Stock Position Raised by Amundi

Amundi lifted its position in Ericsson (NASDAQ:ERIC) by 10.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 498,887 shares of the communications equipment provider’s stock after acquiring an additional 48,692 shares during the quarter. Amundi’s holdings in Ericsson were worth $3,732,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ERIC. Millennium Management LLC lifted its position in shares of Ericsson by 234.6% in the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider’s stock valued at $54,364,000 after acquiring an additional 4,729,207 shares in the last quarter. ABC Arbitrage SA acquired a new stake in shares of Ericsson during the first quarter worth approximately $24,146,000. Northern Trust Corp boosted its holdings in shares of Ericsson by 106.6% during the first quarter. Northern Trust Corp now owns 3,659,696 shares of the communications equipment provider’s stock worth $28,399,000 after purchasing an additional 1,888,375 shares during the period. Jane Street Group LLC boosted its holdings in shares of Ericsson by 113.0% during the first quarter. Jane Street Group LLC now owns 2,387,985 shares of the communications equipment provider’s stock worth $18,531,000 after purchasing an additional 1,266,788 shares during the period. Finally, Trexquant Investment LP boosted its holdings in shares of Ericsson by 52.4% during the first quarter. Trexquant Investment LP now owns 1,653,514 shares of the communications equipment provider’s stock worth $12,831,000 after purchasing an additional 568,382 shares during the period. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ERIC. BNP Paribas restated an “underperform” rating on shares of Ericsson in a report on Wednesday, September 3rd. Wall Street Zen upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a report on Friday, September 5th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $9.80.

Ericsson Stock Performance

Shares of ERIC opened at $8.05 on Friday. The company’s fifty day moving average is $7.72 and its 200-day moving average is $8.04. Ericsson has a 12 month low of $6.64 and a 12 month high of $8.99. The firm has a market cap of $26.95 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 12.74 and a beta of 0.87. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.35.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings results on Tuesday, July 15th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Ericsson had a net margin of 7.06% and a return on equity of 21.17%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $60.54 billion. During the same quarter in the prior year, the business posted ($3.34) EPS. Ericsson’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts expect that Ericsson will post 0.48 EPS for the current fiscal year.

About Ericsson

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.