Sierra Summit Advisors LLC Takes Position in Millicom International Cellular SA $TIGO

Sierra Summit Advisors LLC acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,661 shares of the technology company’s stock, valued at approximately $979,000.

Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd bought a new stake in shares of Millicom International Cellular during the 3rd quarter worth approximately $875,000. JPMorgan Chase & Co. lifted its stake in shares of Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after acquiring an additional 5,020,602 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Millicom International Cellular by 15.0% during the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company’s stock worth $6,230,000 after acquiring an additional 16,695 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Millicom International Cellular by 31.1% during the 4th quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock worth $4,716,000 after acquiring an additional 20,194 shares during the last quarter. Finally, Vest Financial LLC lifted its stake in shares of Millicom International Cellular by 114.3% during the 3rd quarter. Vest Financial LLC now owns 40,969 shares of the technology company’s stock worth $1,989,000 after acquiring an additional 21,849 shares during the last quarter.

Millicom International Cellular Stock Up 3.9%

Shares of TIGO stock opened at $84.11 on Thursday. Millicom International Cellular SA has a 1-year low of $35.49 and a 1-year high of $85.26. The stock’s fifty day moving average price is $79.04 and its 200 day moving average price is $65.08. 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 cap of $14.21 billion, a price-to-earnings ratio of 11.43 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, research analysts expect that Millicom International Cellular SA will post 3.76 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s payout ratio is 40.76%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TIGO. Scotiabank raised their price target on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research note on Monday, March 30th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Morgan Stanley reissued a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Friday, March 6th. Finally, Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.04.

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.