Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sets New 52-Week High – Should You Buy?

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $8.62 and last traded at $8.64, with a volume of 782823 shares traded. The stock had previously closed at $8.54.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ERIC shares. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.5 %

The firm has a 50 day simple moving average of $8.19 and a two-hundred day simple moving average of $7.67. 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 stock has a market capitalization of $28.88 billion, a P/E ratio of -288.83 and a beta of 0.79.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in Telefonaktiebolaget LM Ericsson (publ) by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 161,719 shares of the communications equipment provider’s stock worth $998,000 after acquiring an additional 19,562 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock worth $632,000 after purchasing an additional 1,777 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 14.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 119,097 shares of the communications equipment provider’s stock valued at $735,000 after buying an additional 14,806 shares during the period. Hsbc Holdings PLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at approximately $17,940,000. Finally, Seven Eight Capital LP acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $348,000. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

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.