SK Telecom Co., Ltd. (NYSE:SKM) Stake Lifted by US Bancorp DE

US Bancorp DE raised its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 27.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,368 shares of the Wireless communications provider's stock after buying an additional 26,073 shares during the period. US Bancorp DE's holdings in SK Telecom were worth $2,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of SK Telecom in the 4th quarter valued at about $10,712,000. Raymond James Financial Inc. acquired a new stake in shares of SK Telecom in the 4th quarter valued at about $1,879,000. Robeco Institutional Asset Management B.V. raised its stake in shares of SK Telecom by 2.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock valued at $64,175,000 after purchasing an additional 80,042 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of SK Telecom by 87.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider's stock valued at $3,355,000 after purchasing an additional 73,444 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of SK Telecom in the 4th quarter valued at about $1,344,000.

Analyst Upgrades and Downgrades

SKM has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered shares of SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. lowered shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. Finally, Wall Street Zen lowered shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold".

SK Telecom Stock Performance

SKM traded up $0.24 on Friday, hitting $22.64. 360,700 shares of the company's stock were exchanged, compared to its average volume of 350,653. The stock has a fifty day moving average of $22.30 and a two-hundred day moving average of $21.77. SK Telecom Co., Ltd. has a twelve month low of $19.84 and a twelve month high of $24.58. The firm has a market cap of $8.92 billion, a PE ratio of 11.61, a P/E/G ratio of 9.22 and a beta of 0.63. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). SK Telecom had a net margin of 5.92% and a return on equity of 8.89%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.14 billion. On average, research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

SK Telecom 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.