Allspring Global Investments Holdings LLC Has $16.10 Million Stock Position in SK Telecom Co., Ltd. $SKM

Allspring Global Investments Holdings LLC lessened its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 40.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 547,898 shares of the Wireless communications provider’s stock after selling 375,681 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of SK Telecom worth $16,103,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SKM. Millennium Management LLC boosted its stake in shares of SK Telecom by 202.4% in the 4th quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after purchasing an additional 405,863 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after acquiring an additional 374,428 shares during the period. JPMorgan Chase & Co. raised its position in shares of SK Telecom by 80,378.7% during the 4th quarter. JPMorgan Chase & Co. now owns 328,353 shares of the Wireless communications provider’s stock valued at $6,741,000 after acquiring an additional 327,945 shares during the last quarter. Calamos Advisors LLC acquired a new position in shares of SK Telecom in the 1st quarter valued at $9,065,000. Finally, UBS Group AG lifted its stake in shares of SK Telecom by 215.4% in the 4th quarter. UBS Group AG now owns 426,729 shares of the Wireless communications provider’s stock valued at $8,761,000 after purchasing an additional 291,418 shares during the period.

Wall Street Analysts Forecast Growth

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

SK Telecom Stock Performance

Shares of SK Telecom stock opened at $31.98 on Wednesday. The stock’s fifty day simple moving average is $35.87 and its 200 day simple moving average is $32.09. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $12.27 billion, a PE ratio of 53.30, a PEG ratio of 0.19 and a beta of 0.63. SK Telecom Co., Ltd. has a 12 month low of $19.66 and a 12 month high of $47.18.

SK Telecom (NYSE:SKM) last posted its 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 firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. On average, research analysts predict that SK Telecom Co., Ltd. will post 2.76 EPS for the current year.

SK Telecom Company Profile

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.