Jane Street Group LLC boosted its holdings in Ericsson (NASDAQ:ERIC) by 8.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,692,288 shares of the communications equipment provider’s stock after acquiring an additional 135,636 shares during the period. Jane Street Group LLC owned 0.05% of Ericsson worth $9,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ERIC. M&T Bank Corp lifted its stake in Ericsson by 3.7% during the second quarter. M&T Bank Corp now owns 65,391 shares of the communications equipment provider’s stock worth $468,000 after purchasing an additional 2,326 shares in the last quarter. Advisor Group Inc. lifted its stake in Ericsson by 14.4% during the second quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock worth $143,000 after purchasing an additional 2,520 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in Ericsson by 6.8% during the second quarter. Wetherby Asset Management Inc. now owns 43,345 shares of the communications equipment provider’s stock worth $311,000 after purchasing an additional 2,758 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Ericsson by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 96,675 shares of the communications equipment provider’s stock worth $693,000 after purchasing an additional 2,891 shares in the last quarter. Finally, First Allied Advisory Services Inc. lifted its stake in Ericsson by 14.1% during the second quarter. First Allied Advisory Services Inc. now owns 24,841 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 3,064 shares in the last quarter. Hedge funds and other institutional investors own 8.08% of the company’s stock.

A number of research analysts have commented on the company. BidaskClub cut Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. J P Morgan Chase & Co restated a “neutral” rating on shares of Ericsson in a research note on Saturday, August 26th. Canaccord Genuity decreased their price target on Ericsson from $5.75 to $5.25 and set a “hold” rating on the stock in a research note on Monday, October 23rd. BNP Paribas upgraded Ericsson from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research cut Ericsson from a “hold” rating to a “strong sell” rating in a research note on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Ericsson presently has an average rating of “Hold” and a consensus target price of $5.34.

Shares of Ericsson (NASDAQ:ERIC) opened at $6.25 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.72. Ericsson has a 52 week low of $5.44 and a 52 week high of $7.47.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, October 20th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $47.80 billion during the quarter, compared to analyst estimates of $47.21 billion. Ericsson had a negative net margin of 8.60% and a negative return on equity of 5.67%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. equities research analysts anticipate that Ericsson will post -0.13 EPS for the current year.

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About Ericsson

Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.

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Institutional Ownership by Quarter for Ericsson (NASDAQ:ERIC)

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