Millicom International Cellular (NASDAQ:TIGO) Reaches New 1-Year High – Still a Buy?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) hit a new 52-week high on Wednesday . The company traded as high as $89.67 and last traded at $88.9430, with a volume of 565510 shares changing hands. The stock had previously closed at $87.36.

Analyst Upgrades and Downgrades

TIGO has been the subject of a number of research analyst reports. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Scotiabank raised their price target on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Friday, March 6th. Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.28.

Millicom International Cellular Trading Up 2.3%

The stock has a market cap of $15.10 billion, a PE ratio of 12.13 and a beta of 0.91. The business has a 50-day moving average of $82.43 and a 200 day moving average of $68.62. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. Equities research analysts predict that Millicom International Cellular SA will post 2.34 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a yield of 3.4%. Millicom International Cellular’s payout ratio is 40.76%.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the sale, the insider owned 165,344 shares in the company, valued at $14,634,597.44. The trade was a 22.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after purchasing an additional 5,020,602 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Millicom International Cellular in the 1st quarter valued at $50,664,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Millicom International Cellular by 46,519.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock valued at $70,042,000 after purchasing an additional 1,260,666 shares during the last quarter. Tredje AP fonden acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at about $60,459,000. Finally, State Street Corp lifted its stake in shares of Millicom International Cellular by 129.2% in the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock valued at $68,198,000 after purchasing an additional 1,026,063 shares in the last quarter.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.