Bank of New York Mellon Corp Invests $1.13 Million in Millicom International Cellular SA (NASDAQ:TIGO)

Bank of New York Mellon Corp purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 37,323 shares of the technology company's stock, valued at approximately $1,130,000.

A number of other hedge funds also recently made changes to their positions in TIGO. Geode Capital Management LLC boosted its stake in shares of Millicom International Cellular by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock valued at $3,868,000 after purchasing an additional 1,500 shares in the last quarter. Wells Fargo & Company MN boosted its position in Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after buying an additional 2,055 shares during the period. BTG Pactual Asset Management US LLC boosted its position in Millicom International Cellular by 9.6% during the 4th quarter. BTG Pactual Asset Management US LLC now owns 53,818 shares of the technology company's stock worth $1,336,000 after buying an additional 4,705 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Millicom International Cellular by 37.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock worth $2,720,000 after buying an additional 29,730 shares during the period. Finally, Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the 4th quarter worth approximately $6,165,000.

Wall Street Analysts Forecast Growth

TIGO has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Scotiabank downgraded shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price on the stock. in a research report on Tuesday, June 17th. Finally, UBS Group lifted their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Millicom International Cellular currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.08.

Millicom International Cellular Trading Up 0.5%

Millicom International Cellular stock traded up $0.20 during mid-day trading on Friday, hitting $40.35. 704,342 shares of the stock were exchanged, compared to its average volume of 1,106,229. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 month high of $43.03. The firm's fifty day simple moving average is $37.95 and its two-hundred day simple moving average is $32.66. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 19.40 and a beta of 1.04.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business earned $0.54 EPS. The company's revenue was down 7.6% compared to the same quarter last year. Analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th were paid a $0.75 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 7.4%. Millicom International Cellular's payout ratio is currently 144.23%.

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.