Zacks Investment Research upgraded shares of SK Telecom Co., Ltd. (NYSE:SKM) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $29.00 target price on the Wireless communications provider’s stock.

According to Zacks, “SK Telecom Co. is the world’s first commercial CDMA digital cellular service. As of September 30, 1997, they have provided the highest quality service for more than 4 million cellular customers which includes 2.3 million digital cellular customers, and 7.1 million paging customers. “

Several other equities analysts have also recently commented on SKM. BidaskClub raised shares of SK Telecom Co. from a hold rating to a buy rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised shares of SK Telecom Co. from a neutral rating to a buy rating in a research report on Friday, July 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. SK Telecom Co. has a consensus rating of Hold and a consensus price target of $29.00.

SK Telecom Co. (NYSE:SKM) traded up $0.25 during trading on Wednesday, hitting $25.68. 513,132 shares of the company’s stock traded hands, compared to its average volume of 439,557. SK Telecom Co. has a 1 year low of $20.44 and a 1 year high of $28.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market cap of $16,161.91, a PE ratio of 9.08, a P/E/G ratio of 1.04 and a beta of 0.41.

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Several hedge funds have recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new stake in shares of SK Telecom Co. during the 3rd quarter worth approximately $119,000. Eagle Asset Management Inc. purchased a new stake in shares of SK Telecom Co. during the 3rd quarter worth approximately $231,000. TD Asset Management Inc. increased its stake in shares of SK Telecom Co. by 2.6% during the 3rd quarter. TD Asset Management Inc. now owns 625,900 shares of the Wireless communications provider’s stock worth $15,391,000 after purchasing an additional 16,100 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of SK Telecom Co. during the 3rd quarter worth approximately $7,830,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of SK Telecom Co. during the 3rd quarter worth approximately $101,000. Institutional investors own 11.92% of the company’s stock.

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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