Ericsson Telephone Reaches New 52-Week High (ERIC)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Ericsson Telephone Company (Nasdaq: ERIC) hit a new 52-week high Thursday as it is currently trading at $13.32, above its previous 52-week high of $13.29 with 5.3 million shares traded as of 3:51 p.m. ET. Average volume has been 5.1 million shares over the past 30 days.

Ericsson Telephone has a market cap of $41.67 billion and is part of the technology sector and telecommunications industry. Shares are up 28.1% year to date as of the close of trading on Wednesday.

Ericsson provides communications equipment, professional services, and multimedia solutions to mobile and fixed networks operators worldwide. The company has a P/E ratio of 15.8, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Ericsson Telephone as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Ericsson Telephone Ratings Report.

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