Frank Rimerman Advisors LLC Buys Shares of 59,216 SK Telecom Co., Ltd. $SKM

Frank Rimerman Advisors LLC purchased a new stake in SK Telecom Co., Ltd. (NYSE:SKM) during the first quarter, according to its most recent filing with the SEC. The firm purchased 59,216 shares of the Wireless communications provider’s stock, valued at approximately $1,734,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Groupama Asset Managment grew its stake in SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after purchasing an additional 418 shares during the last quarter. Vise Technologies Inc. lifted its position in shares of SK Telecom by 1.9% during the third quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock valued at $595,000 after buying an additional 525 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of SK Telecom by 10.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after buying an additional 560 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of SK Telecom by 5.6% in the 4th quarter. PDS Planning Inc now owns 14,397 shares of the Wireless communications provider’s stock valued at $296,000 after buying an additional 767 shares in the last quarter. Finally, Matthews International Capital Management LLC boosted its holdings in shares of SK Telecom by 50.4% in the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after buying an additional 835 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

SK Telecom Price Performance

Shares of SKM stock opened at $32.32 on Thursday. SK Telecom Co., Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 53.87, a PEG ratio of 0.19 and a beta of 0.63. The stock’s 50-day simple moving average is $36.88 and its 200-day simple moving average is $31.35.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. As a group, equities analysts forecast that SK Telecom Co., Ltd. will post 2.76 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.