Fideuram Intesa Sanpaolo Private Banking S.P.A. Has $2.22 Million Holdings in Millicom International Cellular SA $TIGO

Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 130.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,608 shares of the technology company’s stock after purchasing an additional 16,775 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Millicom International Cellular were worth $2,219,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular in the 1st quarter valued at $50,664,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Millicom International Cellular by 46,519.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock worth $70,042,000 after buying an additional 1,260,666 shares during the last quarter. Tredje AP fonden acquired a new stake in Millicom International Cellular in the fourth quarter valued at about $60,459,000. State Street Corp grew its position in Millicom International Cellular by 129.2% in the second quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock valued at $68,198,000 after acquiring an additional 1,026,063 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in Millicom International Cellular during the fourth quarter worth about $55,440,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TIGO shares. Scotiabank raised their price target on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Friday, March 6th. JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Wall Street Zen downgraded shares of 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 note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $93.76 on Friday. The firm has a market cap of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.92. Millicom International Cellular SA has a 12-month low of $36.59 and a 12-month high of $95.38. The business has a fifty day simple moving average of $85.67 and a 200 day simple moving average of $73.19. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33.

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

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the company’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 value of $4,362,480.88. Following the sale, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Millicom International Cellular 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.