Clifford Capital Partners LLC Takes $207,000 Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Clifford Capital Partners LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 27,352 shares of the communications equipment provider’s stock, valued at approximately $207,000.

Several other hedge funds have also made changes to their positions in ERIC. Bank of Montreal Can lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock worth $83,788,000 after acquiring an additional 13,531,221 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $17,940,000. Acadian Asset Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $11,869,000. DigitalBridge Group Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after acquiring an additional 785,261 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after acquiring an additional 584,201 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.20 on Wednesday. The company has a fifty day simple moving average of $8.00 and a 200-day simple moving average of $7.05. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.62. 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 released its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

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.