Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High – Still a Buy?

Millicom International Cellular SA (NASDAQ:TIGO) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $68.93 and last traded at $68.28, with a volume of 1715567 shares. The stock had previously closed at $66.95.

Analyst Ratings Changes

A number of research firms have weighed in on TIGO. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. JPMorgan Chase & Co. upped their price target on Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Zacks Research lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Finally, Scotiabank increased their price target on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.95.

Millicom International Cellular Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76. The firm has a fifty day moving average price of $56.11 and a two-hundred day moving average price of $50.45. The stock has a market capitalization of $11.75 billion, a P/E ratio of 10.46 and a beta of 0.93.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after purchasing an additional 314 shares during the last quarter. Allworth Financial LP boosted its position in shares of Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Millicom International Cellular during the third quarter valued at $26,000. Blue Trust Inc. increased its holdings in Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after buying an additional 427 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Millicom International Cellular in the 3rd quarter worth about $28,000.

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.