Charles Schwab Investment Management Inc. Acquires 58,569 Shares of Millicom International Cellular SA $TIGO

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Millicom International Cellular SA by 36.7% during the first quarter, owning 218,236 shares worth approximately $6.6 million.
• Millicom reported $0.51 earnings per share for the quarter, missing analyst estimates, while revenue was $1.37 billion, falling short of the expected $1.40 billion.
• Several analysts have upgraded Millicom's stock rating, with Zacks and Wall Street Zen raising it to "strong-buy," while JPMorgan Chase set a price target increase from $50.00 to $55.00.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,236 shares of the technology company's stock after buying an additional 58,569 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.13% of Millicom International Cellular worth $6,606,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TIGO. State of Wyoming acquired a new position in Millicom International Cellular during the fourth quarter worth $49,000. Wells Fargo & Company MN grew its stake in shares of Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after acquiring an additional 2,055 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Millicom International Cellular by 65.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock valued at $190,000 after purchasing an additional 2,489 shares during the last quarter. EWA LLC purchased a new stake in shares of Millicom International Cellular in the first quarter valued at about $201,000. Finally, Spinnaker Trust purchased a new stake in shares of Millicom International Cellular in the first quarter valued at about $212,000.

Millicom International Cellular Stock Performance

TIGO traded down $0.28 during trading on Friday, hitting $48.31. 787,126 shares of the company traded hands, compared to its average volume of 1,202,649. The firm has a market cap of $8.31 billion, a P/E ratio of 8.52 and a beta of 1.04. The stock's fifty day moving average is $41.08 and its 200 day moving average is $35.14. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. Millicom International Cellular SA has a one year low of $23.61 and a one year high of $48.92.

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

Analyst Ratings Changes

TIGO has been the subject of several analyst reports. Scotiabank increased their target price on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday, August 19th. Wall Street Zen upgraded shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Monday, August 25th. JPMorgan Chase & Co. increased their target price on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. UBS Group increased their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.43.

About Millicom International Cellular

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.