Swedbank AB Takes Position in Millicom International Cellular SA $TIGO

Key Points

• Swedbank AB has acquired a new position in Millicom International Cellular SA, purchasing 2,838,104 shares valued at approximately $85.9 million, which represents about 1.65% ownership in the company.
• The stock of Millicom International Cellular (NASDAQ:TIGO) is currently trading at $47.53, with a 52-week range between $23.61 and $50.78.
• Millicom reported earnings of $0.51 EPS for the last quarter, missing analyst expectations, while the company had a revenue of $1.37 billion, also falling short of forecasts.

Swedbank AB acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,838,104 shares of the technology company's stock, valued at approximately $85,909,000. Swedbank AB owned approximately 1.65% of Millicom International Cellular at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Millicom International Cellular during the fourth quarter valued at about $49,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $84,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Millicom International Cellular by 65.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after buying an additional 2,489 shares during the last quarter. EWA LLC bought a new position in shares of Millicom International Cellular in the first quarter valued at approximately $201,000. Finally, Spinnaker Trust purchased a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $212,000.

Millicom International Cellular Stock Performance

Shares of TIGO stock traded up $0.08 during trading on Tuesday, reaching $47.73. 965,585 shares of the company's stock traded hands, compared to its average volume of 948,840. The firm's 50-day moving average is $43.66 and its 200 day moving average is $36.89. The company has a market capitalization of $8.21 billion, a P/E ratio of 8.42 and a beta of 1.08. Millicom International Cellular SA has a 1 year low of $23.61 and a 1 year high of $50.78. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.40 billion. Equities research analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TIGO shares. UBS Group downgraded Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their price objective for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Scotiabank lifted their price objective on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research report on Tuesday, August 19th. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.02.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.