Cullen Capital Management LLC Acquires Shares of 643,031 Millicom International Cellular SA $TIGO

Cullen Capital Management LLC acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 643,031 shares of the technology company’s stock, valued at approximately $31,213,000. Cullen Capital Management LLC owned 0.37% of Millicom International Cellular at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TIGO. Perpetual Ltd lifted its holdings in shares of Millicom International Cellular by 5,283.2% during the third quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock worth $132,610,000 after purchasing an additional 2,681,221 shares during the period. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular during the 1st quarter worth $50,664,000. 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 worth $68,198,000 after acquiring an additional 1,026,063 shares during the period. Marathon Asset Management Ltd acquired a new stake in shares of Millicom International Cellular in the 3rd quarter worth $47,789,000. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Millicom International Cellular by 201.7% in the second quarter. Qube Research & Technologies Ltd now owns 1,119,991 shares of the technology company’s stock valued at $41,966,000 after acquiring an additional 748,750 shares in the last quarter.

Millicom International Cellular Stock Performance

TIGO opened at $63.11 on Thursday. Millicom International Cellular SA has a 1-year low of $25.50 and a 1-year high of $64.20. The stock has a market cap of $10.86 billion, a P/E ratio of 9.66 and a beta of 0.93. The stock’s 50 day simple moving average is $55.29 and its 200 day simple moving average is $49.85. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Zacks Research cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. JPMorgan Chase & Co. increased their target price 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. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.95.

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.