XTX Topco Ltd Sells 54,942 Shares of Ericsson (NASDAQ:ERIC)

XTX Topco Ltd lowered its stake in Ericsson (NASDAQ:ERIC) by 36.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 94,142 shares of the communications equipment provider’s stock after selling 54,942 shares during the quarter. XTX Topco Ltd’s holdings in Ericsson were worth $731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Ericsson by 55.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider’s stock valued at $14,475,000 after acquiring an additional 638,393 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Ericsson by 7.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,231 shares of the communications equipment provider’s stock worth $196,000 after acquiring an additional 1,713 shares during the last quarter. Northern Trust Corp boosted its position in shares of Ericsson by 41.4% during the fourth quarter. Northern Trust Corp now owns 1,771,321 shares of the communications equipment provider’s stock valued at $14,277,000 after buying an additional 519,029 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Ericsson by 157.8% during the fourth quarter. Cetera Investment Advisers now owns 93,134 shares of the communications equipment provider’s stock valued at $751,000 after buying an additional 57,003 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ericsson during the fourth quarter valued at $105,000. Institutional investors own 7.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ERIC. Wall Street Zen raised 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 report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on Ericsson from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday, April 11th.

Ericsson Price Performance

Shares of ERIC stock opened at $7.39 on Tuesday. Ericsson has a 52-week low of $6.41 and a 52-week high of $8.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 1.09. The firm has a market capitalization of $24.74 billion, a P/E ratio of 14.78, a P/E/G ratio of 11.80 and a beta of 0.85. The stock has a 50 day moving average price of $8.10 and a 200 day moving average price of $8.06.

Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $60.54 billion. Ericsson had a return on equity of 21.17% and a net margin of 7.06%. Ericsson’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the company posted ($3.34) EPS. As a group, sell-side 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.