Millicom International Cellular (NASDAQ:TIGO) Reaches New 1-Year High – Still a Buy?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high on Wednesday . The company traded as high as $100.08 and last traded at $98.16, with a volume of 1161223 shares traded. The stock had previously closed at $95.74.

Wall Street Analyst Weigh In

TIGO has been the topic of several research analyst reports. Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Tuesday, May 26th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Finally, Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.28.

Millicom International Cellular Stock Up 2.5%

The business’s 50 day moving average is $87.33 and its 200 day moving average is $75.38. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The company has a market cap of $16.59 billion, a P/E ratio of 13.34 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, equities analysts anticipate that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 50,140 shares of company stock worth $4,425,461 over the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TIGO. PNC Financial Services Group Inc. increased its holdings in shares of Millicom International Cellular by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock valued at $65,000 after purchasing an additional 139 shares during the period. EWA LLC raised its stake in shares of Millicom International Cellular by 2.5% in the fourth quarter. EWA LLC now owns 7,025 shares of the technology company’s stock worth $389,000 after purchasing an additional 169 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of Millicom International Cellular by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares during the period. Vident Advisory LLC lifted its holdings in shares of Millicom International Cellular by 2.3% during the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after purchasing an additional 254 shares during the period. Finally, Versant Capital Management Inc boosted its position in Millicom International Cellular by 896.7% in 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 during the last quarter.

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.