LSV Asset Management Takes Position in Ericsson $ERIC

LSV Asset Management purchased a new position in shares of Ericsson (NASDAQ:ERIC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,300 shares of the communications equipment provider’s stock, valued at approximately $291,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in shares of Ericsson during the 1st quarter valued at $27,000. Cromwell Holdings LLC raised its stake in Ericsson by 72.8% in the second quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider’s stock valued at $87,000 after purchasing an additional 4,330 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Ericsson by 692.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 12,456 shares of the communications equipment provider’s stock valued at $97,000 after purchasing an additional 10,884 shares in the last quarter. Caliber Wealth Management LLC KS bought a new stake in Ericsson during the first quarter worth about $110,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Ericsson during the first quarter worth about $126,000. Institutional investors own 7.99% of the company’s stock.

Ericsson Trading Up 1.2%

NASDAQ ERIC opened at $9.40 on Friday. The company has a market cap of $31.47 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. Ericsson has a twelve month low of $6.64 and a twelve month high of $10.35. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $9.07 and its 200 day moving average is $8.41.

Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, October 14th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Ericsson had a return on equity of 21.50% and a net margin of 10.44%.The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $57.16 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ericsson will post 0.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ERIC shares. Weiss Ratings restated a “hold (c+)” rating on shares of Ericsson in a research report on Wednesday. Barclays reiterated an “underweight” rating on shares of Ericsson in a research report on Wednesday, October 15th. Wall Street Zen downgraded shares of Ericsson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Cfra Research upgraded Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Ericsson in a report on Wednesday, October 22nd. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $9.80.

Ericsson 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.