Millicom International Cellular (NASDAQ:TIGO) Hits New 52-Week High – What’s Next?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $96.05 and last traded at $95.4510, with a volume of 262809 shares changing hands. The stock had previously closed at $94.08.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Scotiabank boosted their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Millicom International Cellular Trading Up 1.2%

The company has a 50-day moving average price of $86.28 and a 200-day moving average price of $74.19. The firm has a market capitalization of $16.09 billion, a price-to-earnings ratio of 12.94 and a beta of 0.92. 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 announced its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, research analysts forecast that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular 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 transaction, the insider 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 50,140 shares of company stock valued at $4,425,461 in the last three months. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TIGO. PNC Financial Services Group Inc. boosted its stake in Millicom International Cellular by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after purchasing an additional 139 shares during the period. EWA LLC boosted its stake in shares of Millicom International Cellular by 2.5% during the fourth quarter. EWA LLC now owns 7,025 shares of the technology company’s stock worth $389,000 after buying an additional 169 shares during the period. Altshuler Shaham Ltd boosted its stake in shares of Millicom International Cellular by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after buying an additional 170 shares during the period. Vident Advisory LLC grew its holdings in shares of Millicom International Cellular by 2.3% during the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after buying an additional 254 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after acquiring an additional 269 shares during the period.

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.