SK Telecom Co., Ltd. (NYSE:SKM) was upgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.

A number of other brokerages also recently issued reports on SKM. BidaskClub raised SK Telecom Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research downgraded SK Telecom Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Credit Suisse Group downgraded SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 30th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of SK Telecom Co. in a research report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.00.

SK Telecom Co. (NYSE SKM) traded up 3.82% on Friday, reaching $27.15. 238,731 shares of the company’s stock were exchanged. SK Telecom Co. has a one year low of $20.44 and a one year high of $27.38. The firm has a market cap of $17.27 billion, a PE ratio of 11.73 and a beta of 0.34. The firm has a 50 day moving average price of $25.07 and a 200 day moving average price of $23.71.

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Institutional investors have recently made changes to their positions in the company. LSV Asset Management increased its position in shares of SK Telecom Co. by 1.0% in the first quarter. LSV Asset Management now owns 1,184,485 shares of the Wireless communications provider’s stock worth $29,825,000 after buying an additional 12,200 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of SK Telecom Co. by 168.4% in the fourth quarter. Renaissance Technologies LLC now owns 227,400 shares of the Wireless communications provider’s stock worth $4,753,000 after buying an additional 142,687 shares in the last quarter. Comerica Bank increased its position in shares of SK Telecom Co. by 12.9% in the fourth quarter. Comerica Bank now owns 31,078 shares of the Wireless communications provider’s stock worth $668,000 after buying an additional 3,562 shares in the last quarter. Bank of America Corp DE increased its position in shares of SK Telecom Co. by 22.3% in the first quarter. Bank of America Corp DE now owns 2,647,702 shares of the Wireless communications provider’s stock worth $66,670,000 after buying an additional 483,598 shares in the last quarter. Finally, Norges Bank bought a new position in shares of SK Telecom Co. during the fourth quarter worth approximately $808,000. 11.71% of the stock is owned by institutional investors and hedge funds.

About SK Telecom Co.

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

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