Bank of New York Mellon Corp Acquires 29,671 Shares of Millicom International Cellular SA $TIGO

Bank of New York Mellon Corp raised its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 8.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 384,848 shares of the technology company’s stock after acquiring an additional 29,671 shares during the period. Bank of New York Mellon Corp’s holdings in Millicom International Cellular were worth $28,840,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TIGO. JPMorgan Chase & Co. raised its holdings in shares of Millicom International Cellular by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after acquiring an additional 253,891 shares in the last quarter. State Street Corp boosted its position in shares of Millicom International Cellular by 14.9% during the 4th quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock valued at $126,364,000 after acquiring an additional 296,319 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Millicom International Cellular during the first quarter worth about $50,664,000. Boston Partners grew its holdings in shares of Millicom International Cellular by 2.7% during the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock worth $88,911,000 after purchasing an additional 41,765 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Millicom International Cellular by 128.2% in the third quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock worth $61,699,000 after purchasing an additional 714,158 shares during the last quarter.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock opened at $95.38 on Tuesday. 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 business’s 50 day simple moving average is $90.14 and its two-hundred day simple moving average is $77.97. The stock has a market capitalization of $16.12 billion, a P/E ratio of 12.96 and a beta of 0.92. Millicom International Cellular SA has a one year low of $39.01 and a one year high of $100.75.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Analysts forecast that Millicom International Cellular SA will post 1.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TIGO shares. 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. JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group increased their price objective 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. Finally, Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Hold” and an average target price of $79.28.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the transaction, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 50,140 shares of company stock valued at $4,425,461.

Millicom International Cellular Company 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.