SK Telecom (NYSE:SKM) Sees Large Volume Increase – Time to Buy?

Shares of SK Telecom Co., Ltd. (NYSE:SKM) saw strong trading volume on Thursday . Approximately 1,334,979 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 2,111,023 shares.The stock last traded at $32.9630 and had previously closed at $32.32.

Analysts Set New Price Targets

A number of brokerages have issued reports on SKM. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Finally, HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

SK Telecom Stock Up 1.6%

The stock’s 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $31.35. The firm has a market cap of $12.60 billion, a P/E ratio of 54.61, a P/E/G ratio of 0.19 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. As a group, research analysts forecast that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Several hedge funds have recently added to or reduced their stakes in the stock. Groupama Asset Managment grew its stake in shares of SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after acquiring an additional 418 shares during the last quarter. Vise Technologies Inc. raised its position in shares of SK Telecom by 1.9% in the 3rd quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock worth $595,000 after purchasing an additional 525 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in SK Telecom by 10.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after purchasing an additional 560 shares in the last quarter. PDS Planning Inc boosted its stake in SK Telecom by 5.6% in the 4th quarter. PDS Planning Inc now owns 14,397 shares of the Wireless communications provider’s stock worth $296,000 after purchasing an additional 767 shares in the last quarter. Finally, Matthews International Capital Management LLC grew its position in SK Telecom by 50.4% during the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after purchasing an additional 835 shares during the last quarter.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.