Michels Family Financial LLC Purchases Shares of 82,217 Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Michels Family Financial LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 82,217 shares of the communications equipment provider’s stock, valued at approximately $663,000.

A number of other institutional investors also recently modified their holdings of ERIC. Renaissance Technologies LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock worth $109,673,000 after buying an additional 10,891,451 shares in the last quarter. Millennium Management LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 234.6% during the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider’s stock worth $54,364,000 after acquiring an additional 4,729,207 shares during the period. DigitalBridge Group Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 28.8% during the 4th quarter. DigitalBridge Group Inc. now owns 6,382,140 shares of the communications equipment provider’s stock worth $51,440,000 after purchasing an additional 1,427,386 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the 4th quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock valued at $38,755,000 after acquiring an additional 1,705,246 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $23,440,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Kepler Capital Markets upgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, Wall Street Zen upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.3%

Shares of ERIC opened at $8.66 on Friday. The company’s fifty day moving average is $8.03 and its 200 day moving average is $8.09. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $5.76 and a fifty-two week high of $9.00. The stock has a market capitalization of $28.86 billion, a PE ratio of -866,000.00, a P/E/G ratio of 3.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) 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.