Brokerages Set Millicom International Cellular SA (NASDAQ:TIGO) PT at $85.68

Millicom International Cellular SA (NASDAQ:TIGO) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $85.6833.

Several analysts have recently weighed in on the stock. UBS Group increased their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of Millicom International Cellular from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $105.00 price objective (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Scotiabank increased their price objective on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a research report on Friday, August 7th. Finally, Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th.

Millicom International Cellular Trading Down 1.3%

Shares of TIGO stock opened at $95.43 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07. Millicom International Cellular has a twelve month low of $44.88 and a twelve month high of $107.13. The company’s 50-day moving average price is $94.96 and its 200-day moving average price is $86.21. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 24.10 and a beta of 0.92.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently modified their holdings of the business. Tidal Investments LLC raised its position in Millicom International Cellular by 232.9% in the second quarter. Tidal Investments LLC now owns 21,586 shares of the technology company’s stock valued at $1,959,000 after purchasing an additional 15,101 shares during the period. Arlington Capital Management Inc. purchased a new position in shares of Millicom International Cellular during the second quarter worth $240,000. Allworth Financial LP boosted its position in shares of Millicom International Cellular by 32.4% during the second quarter. Allworth Financial LP now owns 650 shares of the technology company’s stock worth $59,000 after buying an additional 159 shares during the period. Corient Private Wealth LP grew its stake in shares of Millicom International Cellular by 69.2% in the second quarter. Corient Private Wealth LP now owns 8,230 shares of the technology company’s stock valued at $707,000 after buying an additional 3,367 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Millicom International Cellular by 9,089.9% in the second quarter. California State Teachers Retirement System now owns 10,343,554 shares of the technology company’s stock valued at $938,781,000 after buying an additional 10,231,000 shares in the last quarter.

About Millicom International Cellular

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television and other connectivity solutions to consumers, businesses and institutions.

Millicom also offers digital products and services, including mobile financial services, digital payments, entertainment and cloud and information technology solutions. Through Tigo Business, it provides connectivity, communications and technology services designed for small businesses, large enterprises and government organizations.

The company serves customers in Latin America, with operations in Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay.