Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target Raised to $6.70

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price target boosted by JPMorgan Chase & Co. from $5.90 to $6.70 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the communications equipment provider’s stock.

Separately, StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.1 %

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.42 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $8.62. The company’s fifty day simple moving average is $7.56 and its 200-day simple moving average is $6.52. The stock has a market cap of $28.06 billion, a P/E ratio of -8.51 and a beta of 0.83.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $506,000. NBC Securities Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 7,744 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 225.8% during the first quarter. Gateway Investment Advisers LLC now owns 46,340 shares of the communications equipment provider’s stock worth $255,000 after purchasing an additional 32,117 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the first quarter valued at approximately $36,000. Finally, Azzad Asset Management Inc. ADV raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 576,227 shares of the communications equipment provider’s stock valued at $3,175,000 after purchasing an additional 10,935 shares during the period. Institutional investors and hedge funds 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.