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

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $100.08 and last traded at $98.16, with a volume of 1161223 shares. The stock had previously closed at $95.74.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Tuesday, May 26th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.28.

Millicom International Cellular Trading Up 2.5%

The company has a 50 day moving average of $87.33 and a 200 day moving average of $75.38. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 13.34 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. On average, research analysts predict that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the sale, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 50,140 shares of company stock valued at $4,425,461.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Millicom International Cellular by 48.1% during the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after buying an additional 14,990 shares during the period. AQR Capital Management LLC grew its holdings in Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after acquiring an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Millicom International Cellular in the first quarter valued at $2,188,000. Goldman Sachs Group Inc. purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Millicom International Cellular in the first quarter valued at approximately $8,504,000.

Millicom International Cellular Company Profile

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.