Millicom International Cellular SA $TIGO Shares Bought by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD significantly increased its stake in Millicom International Cellular by 5,470,214 shares, raising ownership to 5,578,894 shares, worth approximately $168.87 million.
• Millicom International Cellular's stock has experienced a 2.0% increase, with a current trading price of $47.19 and a market cap of $8.12 billion.
• Recent analyst upgrades include Zacks Research and JPMorgan Chase & Co., with Millicom receiving ratings from "hold" to "strong-buy" and a target price increase to $55.00.

Price T Rowe Associates Inc. MD raised its position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 5,033.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,578,894 shares of the technology company's stock after buying an additional 5,470,214 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.24% of Millicom International Cellular worth $168,874,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. State of Wyoming bought a new stake in Millicom International Cellular in the fourth quarter worth $49,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Millicom International Cellular in the 1st quarter worth $84,000. Wells Fargo & Company MN increased its holdings 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 buying an additional 2,055 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Millicom International Cellular by 65.6% during the 1st 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 in the last quarter. Finally, EWA LLC bought a new position in shares of Millicom International Cellular in the 1st quarter valued at about $201,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TIGO shares. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. UBS Group boosted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. 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 research note on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Millicom International Cellular presently has an average rating of "Moderate Buy" and an average target price of $40.43.

Millicom International Cellular Stock Down 0.6%

Shares of Millicom International Cellular stock traded down $0.28 during trading on Friday, hitting $48.32. 441,034 shares of the stock traded hands, compared to its average volume of 926,900. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The stock's fifty day simple moving average is $40.83 and its 200 day simple moving average is $34.94. The firm has a market cap of $8.32 billion, a P/E ratio of 8.52 and a beta of 1.04. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $48.92.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.51 EPS 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 analysts' expectations of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. On average, equities analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

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.