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

Clifford Capital Partners LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,352 shares of the communications equipment provider’s stock, valued at approximately $207,000.

A number of other large investors have also recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the second 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 during the period. Gateway Investment Advisers LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the second 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 during the period. US Bancorp DE lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 415.6% during the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 146,141 shares during the period. Diversified Trust Co acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at $1,545,000. Finally, Blue Trust Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 244.0% during the second quarter. Blue Trust Inc. now owns 16,624 shares of the communications equipment provider’s stock valued at $103,000 after purchasing an additional 11,791 shares during the period. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.5 %

Shares of NASDAQ ERIC opened at $8.20 on Wednesday. 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. The company has a 50-day moving average of $8.00 and a 200 day moving average of $7.05.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The company had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. On average, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ERIC. JPMorgan Chase & Co. upped their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and a consensus target price of $6.70.

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.