Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target Raised to $6.70 at JPMorgan Chase & Co.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price objective upped by JPMorgan Chase & Co. from $5.90 to $6.70 in a research report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the communications equipment provider’s stock.

Separately, StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.0 %

NASDAQ ERIC opened at $8.50 on Monday. The firm has a 50 day simple moving average of $7.56 and a 200-day simple moving average of $6.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $8.62. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of -8.59 and a beta of 0.83.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors have recently modified their holdings of ERIC. Advisors Asset Management Inc. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% in the 1st quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock valued at $1,047,000 after purchasing an additional 8,086 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% in the 2nd quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock valued at $1,161,000 after purchasing an additional 120,072 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake 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 valued at $3,890,000 after purchasing an additional 584,201 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter valued at about $1,545,000. Finally, Blue Trust Inc. increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 244.0% during the 2nd quarter. Blue Trust Inc. now owns 16,624 shares of the communications equipment provider’s stock worth $103,000 after purchasing an additional 11,791 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

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.