Virtu Financial LLC Acquires New Shares in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Virtu Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 79,259 shares of the communications equipment provider’s stock, valued at approximately $601,000.

Several other institutional investors also recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock worth $3,638,000 after acquiring an additional 239,651 shares during the last quarter. US Bancorp DE raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock worth $1,374,000 after purchasing an additional 146,141 shares during the period. Paloma Partners Management Co bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth $3,032,000. Verition Fund Management LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% in the 3rd quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock valued at $8,658,000 after buying an additional 73,320 shares during the period. Finally, Diversified Trust Co bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter valued at $1,545,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ERIC shares. JPMorgan Chase & Co. boosted their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.9 %

Shares of NASDAQ:ERIC opened at $8.30 on Friday. The firm has a market cap of $27.66 billion, a price-to-earnings ratio of -276.67 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62. The company’s fifty day simple moving average is $8.19 and its 200 day simple moving average is $7.27. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Company 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.