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

by · The Cerbat Gem

Millicom International Cellular SA (NASDAQ:TIGO – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $95.01 and last traded at $94.9640, with a volume of 249261 shares changing hands. The stock had previously closed at $90.49.

Analyst Ratings Changes

TIGO has been the topic of several analyst reports. Scotiabank upped their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. Finally, Wall Street Zen lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.28.

Read Our Latest Research Report on TIGO

Millicom International Cellular Stock Performance

The stock has a 50 day moving average price of $85.25 and a two-hundred day moving average price of $72.75. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 12.68 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping 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 net margin of 19.16% and a return on equity of 16.38%. On average, analysts predict that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TIGO. Allworth Financial LP boosted its position in 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 buying an additional 418 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Millicom International Cellular during the fourth quarter valued at $26,000. Blue Trust Inc. lifted its stake in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after acquiring an additional 427 shares during the period. Spire Wealth Management bought a new position in Millicom International Cellular in the fourth quarter valued at about $29,000. Finally, GAMMA Investing LLC increased its position in Millicom International Cellular by 140.8% in the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock worth $32,000 after purchasing an additional 335 shares during the period.

About Millicom International Cellular

(Get Free Report)

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.

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