Swedbank AB Decreases Holdings in Millicom International Cellular SA $TIGO

Swedbank AB trimmed its holdings in Millicom International Cellular SA (NASDAQ:TIGO) by 20.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,605,937 shares of the technology company’s stock after selling 408,096 shares during the quarter. Swedbank AB’s holdings in Millicom International Cellular were worth $120,349,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Millicom International Cellular by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after purchasing an additional 253,891 shares during the period. State Street Corp boosted its holdings in shares of Millicom International Cellular by 14.9% in the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock valued at $126,364,000 after acquiring an additional 296,319 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular in the first quarter valued at approximately $50,664,000. Boston Partners grew its position in shares of Millicom International Cellular by 2.7% during the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock worth $88,911,000 after acquiring an additional 41,765 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Millicom International Cellular by 128.2% during the third quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock worth $61,699,000 after acquiring an additional 714,158 shares during the last quarter.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 50,140 shares of company stock worth $4,425,461.

Analysts Set New Price Targets

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

Millicom International Cellular Stock Down 2.0%

Shares of NASDAQ:TIGO opened at $92.95 on Wednesday. Millicom International Cellular SA has a fifty-two week low of $36.59 and a fifty-two week high of $95.75. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The firm’s 50-day simple moving average is $86.06 and its 200-day simple moving average is $73.90. The company has a market cap of $15.71 billion, a price-to-earnings ratio of 12.63 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm 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%. As a group, equities research analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

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.