StockNews.com Upgrades Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) to Strong-Buy

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Separately, JPMorgan Chase & Co. boosted their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a report on Monday, July 15th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of ERIC opened at $8.28 on Wednesday. The company has a market capitalization of $27.59 billion, a price-to-earnings ratio of -8.36 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $8.62. The firm has a 50-day simple moving average of $7.43 and a 200-day simple moving average of $6.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock valued at $632,000 after buying an additional 1,777 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock worth $388,000 after purchasing an additional 1,823 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock worth $527,000 after purchasing an additional 2,000 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock valued at $87,000 after purchasing an additional 2,024 shares in the last quarter. Finally, First Affirmative Financial Network lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 2,268 shares during the period. Hedge funds and other institutional investors own 7.99% of the company’s stock.

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.