Massachusetts Financial Services Co. MA Takes Position in Millicom International Cellular SA $TIGO

Key Points

• Massachusetts Financial Services opened a new position in Millicom (NASDAQ:TIGO) in Q4, buying 31,517 shares valued at about $1.75 million.
• Multiple analysts (including UBS and HSBC) have recently upgraded TIGO, leaving a MarketBeat consensus of Moderate Buy with an average price target of $65.64.
• Millicom beat quarterly expectations (EPS $1.50 vs. $1.05 est.; revenue $1.65B vs. $1.49B) and declared a $0.75 quarterly dividend (annual $3.00, ~3.7% yield; ex-dividend April 8).

Massachusetts Financial Services Co. MA acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,517 shares of the technology company's stock, valued at approximately $1,747,000.

Several other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock valued at $25,000 after purchasing an additional 314 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Millicom International Cellular by 140.8% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company's stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. Archford Capital Strategies LLC lifted its stake in shares of Millicom International Cellular by 8.5% in the 4th quarter. Archford Capital Strategies LLC now owns 5,076 shares of the technology company's stock valued at $281,000 after purchasing an additional 398 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock valued at $27,000 after purchasing an additional 427 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock valued at $290,000 after purchasing an additional 453 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Zacks Research raised Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. UBS Group raised Millicom International Cellular from a "neutral" rating to a "buy" rating and raised their price objective for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. HSBC raised Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price objective for the company in a research note on Friday, March 6th. Finally, Morgan Stanley reissued a "positive" rating and set a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Millicom International Cellular presently has a consensus rating of "Moderate Buy" and an average target price of $65.64.

Millicom International Cellular Trading Down 0.6%

Shares of NASDAQ TIGO opened at $81.38 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $73.14 and a two-hundred day simple moving average of $59.78. The firm has a market cap of $13.75 billion, a PE ratio of 10.37 and a beta of 0.87. Millicom International Cellular SA has a twelve month low of $30.26 and a twelve month high of $84.44.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.Millicom International Cellular's revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. Analysts expect that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.7%. Millicom International Cellular's dividend payout ratio (DPR) is currently 38.22%.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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