Lazard Asset Management LLC Acquires 18,059 Shares of Millicom International Cellular S.A. (NASDAQ:TIGO)

Lazard Asset Management LLC lifted its position in shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) by 65.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,789 shares of the technology company's stock after acquiring an additional 18,059 shares during the quarter. Lazard Asset Management LLC's holdings in Millicom International Cellular were worth $1,145,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TIGO. Brandes Investment Partners LP grew its holdings in shares of Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock valued at $114,402,000 after buying an additional 68,061 shares during the last quarter. LB Partners LLC boosted its stake in shares of Millicom International Cellular by 1.4% in the fourth quarter. LB Partners LLC now owns 518,923 shares of the technology company's stock valued at $12,978,000 after purchasing an additional 7,000 shares during the period. Park West Asset Management LLC bought a new position in shares of Millicom International Cellular in the fourth quarter valued at approximately $6,165,000. Charles Schwab Investment Management Inc. increased its stake in Millicom International Cellular by 47.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company's stock valued at $3,993,000 after buying an additional 51,620 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in 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 during the period.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley started coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 price objective for the company. Barclays reduced their price objective on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Scotiabank upped their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a report on Friday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $33.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. Finally, UBS Group increased their price target on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.73.

Millicom International Cellular Price Performance

TIGO traded up $0.07 during trading on Friday, hitting $36.89. The company's stock had a trading volume of 604,919 shares, compared to its average volume of 381,509. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 39.25 and a beta of 1.03. The business's fifty day simple moving average is $32.01 and its 200 day simple moving average is $28.34. Millicom International Cellular S.A. has a twelve month low of $22.59 and a twelve month high of $37.31. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period last year, the firm posted $0.54 earnings per share. The business's quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Millicom International Cellular S.A. will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently announced an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio (DPR) is presently 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.