Boston Partners Makes New Investment in Millicom International Cellular SA $TIGO

Key Points

• Boston Partners acquired 2,421,077 shares of Millicom International Cellular SA, worth approximately $73 million, increasing its stake to 1.41% as of the latest SEC filing.
• Millicom reported a Q2 EPS of $0.51, missing the analysts' consensus estimate of $0.54, with revenue of $1.37 billion, below the expected $1.40 billion.
• The company's recent dividend was reduced to $0.75 per quarter, reflecting a dividend yield of 6.8% and a payout ratio of 52.91%.

Boston Partners bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,421,077 shares of the technology company's stock, valued at approximately $73,286,000. Boston Partners owned 1.41% of Millicom International Cellular as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Wyoming bought a new stake in shares of Millicom International Cellular during the fourth quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $84,000. Wells Fargo & Company MN raised its holdings in shares of Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after buying an additional 2,055 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock valued at $190,000 after buying an additional 2,489 shares during the last quarter. Finally, EWA LLC bought a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $201,000.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO traded up $1.23 during trading on Wednesday, hitting $45.38. The company had a trading volume of 1,434,852 shares, compared to its average volume of 1,124,025. The company has a market cap of $7.81 billion, a P/E ratio of 8.00 and a beta of 1.04. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $45.73. The business's 50-day moving average is $39.60 and its 200 day moving average is $34.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their price target on Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Sunday. Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, UBS Group boosted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Millicom International Cellular has an average rating of "Moderate Buy" and a consensus target price of $40.43.

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.