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

Millicom International Cellular SA (NASDAQ:TIGO)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $95.01 and last traded at $94.9640, with a volume of 249261 shares. The stock had previously closed at $90.49.

Analysts Set New Price Targets

A number of brokerages have issued reports on TIGO. JPMorgan Chase & Co. raised their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Friday, March 6th. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Tuesday, May 26th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Price Performance

The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company has a fifty day moving average price of $85.25 and a two-hundred day moving average price of $72.75. The firm has a market cap of $15.77 billion, a P/E ratio of 12.68 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. Equities analysts anticipate that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Institutional Trading of Millicom International Cellular

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after buying an additional 14,990 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after acquiring an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Millicom International Cellular in the first quarter worth $2,188,000. Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular in the first quarter worth $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Millicom International Cellular during the first quarter worth $8,504,000.

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.