SK Telecom Co., Ltd. (NYSE:SKM) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts also recently issued reports on SKM. Zacks Investment Research upgraded shares of SK Telecom Co. from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) upgraded shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 21st. Credit Suisse Group downgraded shares of SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 30th. Finally, Citigroup Inc. restated a “neutral” rating on shares of SK Telecom Co. in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. SK Telecom Co. presently has an average rating of “Buy” and a consensus price target of $32.00.

SK Telecom Co. (SKM) opened at 25.99 on Friday. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 9.35 and a beta of 0.35. The company’s 50-day moving average price is $26.32 and its 200 day moving average price is $24.37. SK Telecom Co. has a 52 week low of $20.44 and a 52 week high of $28.13.

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Several hedge funds and other institutional investors have recently made changes to their positions in SKM. LSV Asset Management boosted 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 valued at $29,825,000 after buying an additional 12,200 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of SK Telecom Co. by 41.5% in the first quarter. Eqis Capital Management Inc. now owns 19,487 shares of the Wireless communications provider’s stock valued at $491,000 after buying an additional 5,712 shares in the last quarter. Greenleaf Trust acquired a new position in shares of SK Telecom Co. during the first quarter valued at approximately $227,000. BB&T Corp boosted its position in shares of SK Telecom Co. by 1.5% in the first quarter. BB&T Corp now owns 40,231 shares of the Wireless communications provider’s stock valued at $1,013,000 after buying an additional 605 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in shares of SK Telecom Co. by 5.8% in the first quarter. Wetherby Asset Management Inc. now owns 27,393 shares of the Wireless communications provider’s stock valued at $690,000 after buying an additional 1,490 shares in the last quarter. 11.87% of the stock is currently owned by institutional investors.

SK Telecom Co. Company Profile

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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