SK Telecom (NYSE:SKM) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of SK Telecom (NYSE:SKM) from a buy rating to a strong-buy rating in a research report report published on Wednesday.

Separately, Nomura restated a reduce rating on shares of SK Telecom in a research report on Monday, February 5th.

SK Telecom Stock Performance

Shares of SK Telecom stock opened at $20.12 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61. SK Telecom has a 1-year low of $18.52 and a 1-year high of $22.71. The company’s fifty day simple moving average is $21.55 and its 200-day simple moving average is $21.23.

Hedge Funds Weigh In On SK Telecom

Hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of SK Telecom by 3.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,638,616 shares of the Wireless communications provider’s stock valued at $35,165,000 after buying an additional 53,557 shares in the last quarter. BlackRock Inc. raised its holdings in SK Telecom by 47.6% during the first quarter. BlackRock Inc. now owns 1,316,978 shares of the Wireless communications provider’s stock valued at $33,754,000 after acquiring an additional 424,441 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of SK Telecom by 602.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,229,982 shares of the Wireless communications provider’s stock valued at $25,227,000 after acquiring an additional 1,054,990 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of SK Telecom by 3.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,159,884 shares of the Wireless communications provider’s stock worth $25,007,000 after acquiring an additional 37,186 shares during the period. Finally, Morgan Stanley grew its position in shares of SK Telecom by 7.2% during the third quarter. Morgan Stanley now owns 941,663 shares of the Wireless communications provider’s stock worth $20,208,000 after purchasing an additional 63,396 shares in the last quarter.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.