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

Millicom International Cellular SA (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $106.44 and last traded at $103.0080, with a volume of 335587 shares. The stock had previously closed at $91.79.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price 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. UBS Group upped their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank lifted their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Millicom International Cellular currently has a consensus rating of “Hold” and an average target price of $79.28.

Millicom International Cellular Stock Up 14.5%

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 stock has a 50-day simple moving average of $91.51 and a 200-day simple moving average of $80.05. The firm has a market capitalization of $17.77 billion, a PE ratio of 14.35 and a beta of 0.91.

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

Insider Buying and Selling

In other news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 50,140 shares of company stock valued at $4,425,461. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors have recently made changes to their positions in TIGO. Allworth Financial LP raised its position in Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after purchasing an additional 418 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Millicom International Cellular during the 4th quarter valued at about $26,000. Blue Trust Inc. lifted its position in Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after buying an additional 427 shares during the last quarter. Versant Capital Management Inc lifted its position in Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after buying an additional 269 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Millicom International Cellular by 55.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after buying an additional 502 shares in 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.