Yousif Capital Management LLC Increases Stock Position in Ericsson $ERIC

Yousif Capital Management LLC lifted its holdings in Ericsson (NASDAQ:ERIC) by 17.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 55,228 shares of the communications equipment provider’s stock after purchasing an additional 8,010 shares during the period. Yousif Capital Management LLC’s holdings in Ericsson were worth $468,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of Ericsson by 0.6% during the 1st quarter. Acadian Asset Management LLC now owns 87,313,506 shares of the communications equipment provider’s stock worth $677,498,000 after acquiring an additional 482,691 shares in the last quarter. Northern Trust Corp increased its stake in Ericsson by 106.6% during the 1st quarter. Northern Trust Corp now owns 3,659,696 shares of the communications equipment provider’s stock valued at $28,399,000 after purchasing an additional 1,888,375 shares in the last quarter. ABC Arbitrage SA acquired a new position in Ericsson during the 1st quarter valued at approximately $24,146,000. Jane Street Group LLC increased its stake in Ericsson by 113.0% during the 1st quarter. Jane Street Group LLC now owns 2,387,985 shares of the communications equipment provider’s stock valued at $18,531,000 after purchasing an additional 1,266,788 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in Ericsson by 52.4% during the 1st quarter. Trexquant Investment LP now owns 1,653,514 shares of the communications equipment provider’s stock valued at $12,831,000 after purchasing an additional 568,382 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ERIC. Cfra Research upgraded shares of Ericsson to a “hold” rating in a research note on Wednesday, October 15th. BNP Paribas restated an “underperform” rating on shares of Ericsson in a research note on Wednesday, September 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Ericsson in a research note on Wednesday, October 8th. Barclays restated an “underweight” rating on shares of Ericsson in a research note on Wednesday, October 15th. Finally, Danske lowered shares of Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $9.80.

Ericsson Stock Performance

Shares of NASDAQ ERIC opened at $9.48 on Friday. The company’s fifty day moving average price is $8.29 and its 200 day moving average price is $8.14. Ericsson has a 1 year low of $6.64 and a 1 year high of $9.87. The company has a market capitalization of $31.74 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.94 and a current ratio of 1.17.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, October 14th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. Ericsson had a net margin of 10.44% and a return on equity of 21.50%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $57.16 billion. During the same period last year, the firm posted $1.14 earnings per share. The company’s revenue was down 9.0% compared to the same quarter last year. On average, research analysts predict that Ericsson will post 0.48 earnings per share for the current 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.