Millicom International Cellular (NASDAQ:TIGO) Price Target Raised to $24.00

Millicom International Cellular (NASDAQ:TIGO) had its price target lifted by HSBC from $22.50 to $24.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

TIGO has been the subject of a number of other reports. Scotiabank boosted their target price on shares of Millicom International Cellular from $18.00 to $26.10 and gave the company a sector outperform rating in a research report on Wednesday, February 28th. New Street Research upgraded Millicom International Cellular from a neutral rating to a buy rating and upped their target price for the stock from $20.00 to $24.00 in a research note on Thursday, February 29th. Morgan Stanley upgraded Millicom International Cellular from an equal weight rating to an overweight rating in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. upgraded Millicom International Cellular from a neutral rating to an overweight rating in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $24.70.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $20.08 on Thursday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 0.82. Millicom International Cellular has a 52-week low of $14.46 and a 52-week high of $20.81. The business has a 50-day moving average price of $18.24 and a 200-day moving average price of $17.25.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.36) earnings per share (EPS) for the quarter. The business had revenue of $1.48 billion for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%.

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. grew its holdings in Millicom International Cellular by 261.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company’s stock valued at $28,000 after purchasing an additional 816 shares during the period. JPMorgan Chase & Co. grew its stake in Millicom International Cellular by 2,212.3% in the 1st quarter. JPMorgan Chase & Co. now owns 27,031 shares of the technology company’s stock valued at $681,000 after acquiring an additional 25,862 shares during the period. Bridgewater Associates LP increased its holdings in Millicom International Cellular by 206.4% in the 1st quarter. Bridgewater Associates LP now owns 55,955 shares of the technology company’s stock worth $1,411,000 after acquiring an additional 37,690 shares in the last quarter. Parkwood LLC raised its position in Millicom International Cellular by 25.0% during the first quarter. Parkwood LLC now owns 211,781 shares of the technology company’s stock worth $5,339,000 after acquiring an additional 42,383 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Millicom International Cellular by 315.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 107,268 shares of the technology company’s stock valued at $2,704,000 after purchasing an additional 81,450 shares in the last quarter.

About Millicom International Cellular

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.