Hsbc Holdings PLC Purchases 21,175 Shares of Millicom International Cellular SA $TIGO

Hsbc Holdings PLC boosted its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 38.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,751 shares of the technology company’s stock after purchasing an additional 21,175 shares during the quarter. Hsbc Holdings PLC’s holdings in Millicom International Cellular were worth $5,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Millicom International Cellular by 3.9% during the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock worth $372,202,000 after buying an additional 253,891 shares in the last quarter. State Street Corp raised its holdings in shares of Millicom International Cellular by 14.9% in the fourth 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 in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular in the first quarter valued at about $50,664,000. Boston Partners lifted its stake in Millicom International Cellular by 2.7% in the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock worth $88,911,000 after acquiring an additional 41,765 shares during the period. Finally, Northern Trust Corp lifted its stake in 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 acquiring an additional 714,158 shares during the period.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $96.25 on Friday. The company has a market capitalization of $16.27 billion, a PE ratio of 13.08 and a beta of 0.92. The company has a 50-day simple moving average of $89.54 and a two-hundred day simple moving average of $77.44. Millicom International Cellular SA has a one year low of $39.01 and a one year high of $100.75. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. Zacks Research downgraded shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. UBS Group increased their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Finally, Scotiabank boosted their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.28.

Insiders Place Their Bets

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 50,140 shares of company stock valued at $4,425,461 in the last three months. 0.52% of the stock is owned by company insiders.

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.