Franklin Resources Inc. Takes Position in Millicom International Cellular SA $TIGO

Franklin Resources Inc. purchased a new position in Millicom International Cellular SA (NASDAQ:TIGO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,501 shares of the technology company’s stock, valued at approximately $1,293,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the last quarter. USA Financial Formulas bought a new position in shares of Millicom International Cellular during the 2nd quarter valued at $30,000. KLP Kapitalforvaltning AS boosted its stake in shares of Millicom International Cellular by 1.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 107,867 shares of the technology company’s stock worth $4,042,000 after buying an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Millicom International Cellular by 65.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock worth $190,000 after acquiring an additional 2,489 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Millicom International Cellular during the first quarter valued at $84,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TIGO. Scotiabank raised their target price on Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Zacks Research upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.47.

Millicom International Cellular Price Performance

NASDAQ:TIGO opened at $50.20 on Friday. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 7.69 and a beta of 0.93. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91. The business has a 50 day simple moving average of $49.37 and a 200-day simple moving average of $44.24. Millicom International Cellular SA has a 1 year low of $23.61 and a 1 year high of $56.27.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.21). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The business’s revenue was down .8% on a year-over-year basis. Equities analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.