Primecap Management Co. CA Buys 1,143,200 Shares of Telefonaktiebolaget LM Ericsson (ERIC)

Primecap Management Co. CA lifted its stake in shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,741,106 shares of the communications equipment provider’s stock after acquiring an additional 1,143,200 shares during the quarter. Primecap Management Co. CA owned approximately 3.98% of Telefonaktiebolaget LM Ericsson worth $1,168,122,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson by 96.2% during the second quarter. Commonwealth Equity Services LLC now owns 36,126 shares of the communications equipment provider’s stock worth $277,000 after acquiring an additional 17,716 shares during the period. First Trust Advisors LP bought a new position in Telefonaktiebolaget LM Ericsson in the second quarter valued at $472,000. Sei Investments Co. grew its position in Telefonaktiebolaget LM Ericsson by 17.1% in the second quarter. Sei Investments Co. now owns 685,627 shares of the communications equipment provider’s stock valued at $5,259,000 after purchasing an additional 100,337 shares in the last quarter. Trexquant Investment LP grew its position in Telefonaktiebolaget LM Ericsson by 7.6% in the second quarter. Trexquant Investment LP now owns 121,914 shares of the communications equipment provider’s stock valued at $935,000 after purchasing an additional 8,572 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in Telefonaktiebolaget LM Ericsson in the second quarter valued at $1,541,000. Institutional investors own 8.21% of the company’s stock.

ERIC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research report on Wednesday, September 19th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Monday, September 17th. BidaskClub raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Argus raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Finally, ValuEngine downgraded shares of Telefonaktiebolaget LM Ericsson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Telefonaktiebolaget LM Ericsson has a consensus rating of “Hold” and an average price target of $8.49.

Shares of ERIC traded down $0.01 during midday trading on Friday, reaching $8.40. The stock had a trading volume of 110,241 shares, compared to its average volume of 5,483,229. Telefonaktiebolaget LM Ericsson has a one year low of $6.00 and a one year high of $9.45. The company has a market cap of $28.17 billion, a PE ratio of -17.82 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.52 and a quick ratio of 1.22.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Thursday, October 18th. The communications equipment provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. Telefonaktiebolaget LM Ericsson had a negative net margin of 9.26% and a negative return on equity of 0.43%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $5.63 billion. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.28 earnings per share for the current year.

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Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Institutional Ownership by Quarter for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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