SK Telecom (NYSE:SKM) Upgraded by StockNews.com to Strong-Buy

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 reaffirmed a reduce rating on shares of SK Telecom in a research note on Monday, February 5th.

SK Telecom Stock Performance

NYSE:SKM opened at $20.12 on Wednesday. SK Telecom has a 52-week low of $18.52 and a 52-week high of $22.71. The stock has a fifty day simple moving average of $21.55 and a 200-day simple moving average of $21.23. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.61.

Hedge Funds Weigh In On SK Telecom

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

About SK Telecom

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.