Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

Separately, JPMorgan Chase & Co. increased their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. Two equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.50 on Wednesday. The stock has a fifty day moving average of $7.46 and a 200-day moving average of $6.45. The stock has a market capitalization of $28.33 billion, a P/E ratio of -8.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $8.62.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at approximately $36,000. BOKF NA acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $41,000. Hexagon Capital Partners LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 3,924 shares during the last quarter. Finally, NBC Securities Inc. increased its position in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after acquiring an additional 7,744 shares during the period. Institutional investors own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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.