William Blair Investment Management LLC Purchases 16,695 Shares of Millicom International Cellular SA $TIGO

William Blair Investment Management LLC grew its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,350 shares of the technology company’s stock after purchasing an additional 16,695 shares during the quarter. William Blair Investment Management LLC’s holdings in Millicom International Cellular were worth $6,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new stake in shares of Millicom International Cellular in the third quarter worth about $4,010,000. State of Alaska Department of Revenue bought a new position in Millicom International Cellular during the third quarter valued at approximately $970,000. Plato Investment Management Ltd bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at $875,000. Itau Unibanco Holding S.A. increased its holdings in shares of Millicom International Cellular by 52.7% in the second quarter. Itau Unibanco Holding S.A. now owns 703,267 shares of the technology company’s stock worth $26,351,000 after buying an additional 242,569 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Millicom International Cellular by 21.9% in the second quarter. JPMorgan Chase & Co. now owns 1,439,114 shares of the technology company’s stock valued at $53,924,000 after purchasing an additional 258,635 shares during the last quarter.

Wall Street Analyst Weigh In

TIGO has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Scotiabank lowered shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and dropped their price objective for the stock from $46.80 to $43.00 in a research note on Wednesday, February 11th. Morgan Stanley reiterated a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Finally, UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the company from $49.00 to $70.00 in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.40.

Millicom International Cellular Stock Down 4.2%

TIGO opened at $72.02 on Wednesday. The company has a market capitalization of $12.39 billion, a PE ratio of 9.17 and a beta of 0.90. Millicom International Cellular SA has a 52 week low of $25.50 and a 52 week high of $75.25. The firm has a 50-day simple moving average of $61.01 and a two-hundred day simple moving average of $53.38. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal 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.