Millicom International Cellular SA $TIGO Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Millicom International Cellular stake by 9,089.9% in the second quarter, acquiring 10.23 million shares. It now owns approximately 6.12% of TIGO, valued at $938.8 million.
• TIGO shares opened at $96.68, near the upper end of their 52-week range of $44.88 to $107.13. The company has a $16.34 billion market capitalization and carries a debt-to-equity ratio of 3.07.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the overall consensus is Hold, with an average price target of $85.68.

California State Teachers Retirement System lifted its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 9,089.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,343,554 shares of the technology company's stock after buying an additional 10,231,000 shares during the period. California State Teachers Retirement System owned approximately 6.12% of Millicom International Cellular worth $938,781,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP increased its position in Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company's stock worth $25,000 after buying an additional 418 shares during the period. Altshuler Shaham Ltd acquired a new stake in Millicom International Cellular during the 4th quarter worth $26,000. Versant Capital Management Inc boosted its stake in Millicom International Cellular by 896.7% during the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company's stock worth $27,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC grew its position in Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company's stock worth $53,000 after purchasing an additional 502 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Millicom International Cellular during the 4th quarter worth $61,000.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $96.68 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07. The company has a market cap of $16.34 billion, a P/E ratio of 24.41 and a beta of 0.92. Millicom International Cellular SA has a 52 week low of $44.88 and a 52 week high of $107.13. The company has a 50-day moving average price of $94.95 and a 200 day moving average price of $85.88.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TIGO. Scotiabank increased their target price on shares of Millicom International Cellular from $52.40 to $60.10 and gave the stock a "sector underperform" rating in a research note on Friday, August 7th. Zacks Research raised Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings cut Millicom International Cellular from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, August 21st. UBS Group lifted their target price on Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $105.00 target price (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $85.68.

Millicom International Cellular Company Profile

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television and other connectivity solutions to consumers, businesses and institutions.

Millicom also offers digital products and services, including mobile financial services, digital payments, entertainment and cloud and information technology solutions. Through Tigo Business, it provides connectivity, communications and technology services designed for small businesses, large enterprises and government organizations.

The company serves customers in Latin America, with operations in Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay.

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