Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High – Still a Buy?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $100.47 and last traded at $100.46, with a volume of 130836 shares changing hands. The stock had previously closed at $98.61.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TIGO shares. JPMorgan Chase & Co. boosted 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. Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Scotiabank upped their target price on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.28.

Millicom International Cellular Price Performance

The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a market capitalization of $16.83 billion, a PE ratio of 13.54 and a beta of 0.92. The company’s fifty day simple moving average is $88.93 and its two-hundred day simple moving average is $76.86.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly 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. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. As a group, sell-side analysts predict that Millicom International Cellular SA will post 1.78 EPS for the current year.

Insider Activity

In related news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the transaction, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 50,140 shares of company stock worth $4,425,461.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Millicom International Cellular by 3.9% in the fourth 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 increased its position in 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 worth $126,364,000 after purchasing an additional 296,319 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Millicom International Cellular during the 1st quarter worth about $50,664,000. Boston Partners raised its stake in Millicom International Cellular by 2.7% in the 4th quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock valued at $88,911,000 after purchasing an additional 41,765 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Millicom International Cellular by 128.2% in the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock valued at $61,699,000 after purchasing an additional 714,158 shares during the last quarter.

About Millicom International Cellular

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.