Millicom International Cellular SA (NASDAQ:TIGO) Receives $80.82 Consensus Target Price from Brokerages

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have earned a consensus rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $85.6833.

Several equities analysts have recently issued reports on TIGO shares. UBS Group lifted their price target on Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Scotiabank lifted their target price on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a report on Friday, August 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $105.00 price target (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday. Royal Bank Of Canada set a $105.00 price objective on shares of Millicom International Cellular in a research note on Tuesday. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Millicom International Cellular in a research note on Friday, August 7th.

Millicom International Cellular Stock Up 1.9%

TIGO stock opened at $90.47 on Friday. The firm’s 50-day moving average is $93.21 and its two-hundred day moving average is $82.69. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 22.85 and a beta of 0.91. Millicom International Cellular has a 52 week low of $44.88 and a 52 week high of $107.13. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07.

Insider Activity at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction 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 completion of the sale, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after purchasing an additional 418 shares during the period. Altshuler Shaham Ltd acquired a new stake in Millicom International Cellular during the 4th quarter worth about $26,000. Versant Capital Management Inc lifted its stake in Millicom International Cellular by 896.7% during the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after buying an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Millicom International Cellular by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after buying an additional 502 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Millicom International Cellular in the fourth quarter worth about $61,000.

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.