Handelsbanken Fonder AB Boosts Position in Millicom International Cellular SA $TIGO

Handelsbanken Fonder AB boosted its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 51.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 35,400 shares of the technology company’s stock after purchasing an additional 12,100 shares during the period. Handelsbanken Fonder AB’s holdings in Millicom International Cellular were worth $1,718,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after acquiring an additional 314 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Millicom International Cellular during the 3rd quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in Millicom International Cellular during the 3rd quarter valued at $28,000. Ameritas Advisory Services LLC purchased a new stake in shares of Millicom International Cellular in the 3rd quarter worth $32,000. Finally, CWM LLC bought a new position in shares of Millicom International Cellular during the 3rd quarter worth $42,000.

Analyst Ratings Changes

Several research firms recently weighed in on TIGO. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Scotiabank cut shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and lowered their price target for the stock from $46.80 to $43.00 in a research report on Wednesday, February 11th. Morgan Stanley reiterated a “positive” rating and set a $55.00 price objective on shares of Millicom International Cellular in a research note on Thursday, February 26th. Zacks Research cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, 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 report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.40.

Millicom International Cellular Trading Up 0.7%

NASDAQ:TIGO opened at $72.50 on Thursday. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 9.24 and a beta of 0.90. Millicom International Cellular SA has a 52 week low of $26.07 and a 52 week high of $75.25. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The firm has a 50 day moving average of $61.37 and a 200 day moving average of $53.52.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

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.