Bond & Devick Financial Network Inc. Takes $225,000 Position in Millicom International Cellular SA $TIGO

Key Points

• Bond & Devick Financial Network Inc. acquired 6,000 shares of Millicom International Cellular SA, valued at approximately $225,000, as reported in a Form 13F filing.
• Stock analyst ratings for Millicom have been mixed, with Wall Street Zen upgrading to a "strong-buy," while UBS Group downgraded to "neutral" but raised its target price to $49.00.
• Millicom's stock price has surged by 3.4%, currently trading around $49.68, with a 12-month high of $50.78 and a P/E ratio of 8.76.

Bond & Devick Financial Network Inc. acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,000 shares of the technology company's stock, valued at approximately $225,000.

Several other hedge funds have also made changes to their positions in the company. Dodge & Cox purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $263,401,000. Price T Rowe Associates Inc. MD grew its stake in shares of Millicom International Cellular by 5,033.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock valued at $168,874,000 after buying an additional 5,470,214 shares during the period. Swedbank AB purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $85,909,000. Boston Partners purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $73,286,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $50,664,000.

Millicom International Cellular Stock Down 2.1%

TIGO stock traded down $1.03 during midday trading on Monday, hitting $48.65. The company's stock had a trading volume of 801,265 shares, compared to its average volume of 960,040. The firm has a 50-day simple moving average of $44.33 and a 200-day simple moving average of $37.42. The firm has a market capitalization of $8.37 billion, a P/E ratio of 8.58 and a beta of 1.08. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted 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). The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. As a group, equities analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 note on Thursday, August 14th. Scotiabank increased 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. UBS Group cut shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $39.50 to $49.00 in a research report on Thursday, September 11th. Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, Wall Street Zen raised shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.02.

Millicom International Cellular 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.