Parallel Advisors LLC Has $805,000 Holdings in SK Telecom Co., Ltd. $SKM

Parallel Advisors LLC boosted its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 116.2% in the first quarter, HoldingsChannel.com reports. The firm owned 27,483 shares of the Wireless communications provider’s stock after buying an additional 14,770 shares during the period. Parallel Advisors LLC’s holdings in SK Telecom were worth $805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Common Asset Management LLC grew its position in shares of SK Telecom by 3.5% in the 1st quarter. Boston Common Asset Management LLC now owns 126,681 shares of the Wireless communications provider’s stock valued at $3,710,000 after buying an additional 4,300 shares during the last quarter. Euro Pacific Asset Management LLC raised its position in shares of SK Telecom by 80.6% during the first quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider’s stock worth $6,513,000 after acquiring an additional 99,741 shares during the last quarter. Calamos Wealth Management LLC acquired a new position in shares of SK Telecom in the first quarter worth approximately $3,511,000. Calamos Advisors LLC bought a new stake in SK Telecom in the first quarter valued at approximately $9,065,000. Finally, Matthews International Capital Management LLC boosted its holdings in SK Telecom by 33.5% in the first quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider’s stock valued at $97,000 after acquiring an additional 835 shares during the last quarter.

Analysts Set New Price Targets

SKM has been the subject of several analyst reports. Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

SK Telecom Trading Up 3.9%

SKM opened at $35.27 on Friday. SK Telecom Co., Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The firm has a market capitalization of $13.54 billion, a PE ratio of 58.79, a P/E/G ratio of 0.21 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. The company’s 50-day moving average is $35.68 and its 200 day moving average is $32.29.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. As a group, research analysts predict that SK Telecom Co., Ltd. will post 2.77 earnings per share for the current fiscal year.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.