Segall Bryant & Hamill LLC Makes New $2.95 Million Investment in Millicom International Cellular SA (NASDAQ:TIGO)

Segall Bryant & Hamill LLC acquired a new position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,277 shares of the technology company's stock, valued at approximately $2,945,000. Segall Bryant & Hamill LLC owned approximately 0.06% of Millicom International Cellular as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TIGO. Cerity Partners LLC grew its stake in Millicom International Cellular by 4.7% during the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock worth $339,000 after buying an additional 508 shares in the last quarter. Geode Capital Management LLC raised its holdings in Millicom International Cellular by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after purchasing an additional 1,500 shares during the last quarter. State of Wyoming bought a new position in Millicom International Cellular during the 4th quarter worth approximately $49,000. LB Partners LLC increased its stake in shares of Millicom International Cellular by 0.4% in the 1st quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock valued at $15,907,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Wells Fargo & Company MN increased 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 valued at $122,000 after acquiring an additional 2,055 shares in the last quarter.

Millicom International Cellular Price Performance

NASDAQ TIGO traded up $0.81 on Friday, reaching $39.95. 1,182,830 shares of the company's stock traded hands, compared to its average volume of 519,661. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.76 and a quick ratio of 0.74. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 month high of $40.00. The stock has a market cap of $6.88 billion, a PE ratio of 19.21 and a beta of 1.06. The stock has a 50-day simple moving average of $37.04 and a 200 day simple moving average of $31.57.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.23. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. As a group, research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular's dividend payout ratio is presently 144.23%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TIGO shares. Scotiabank downgraded shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target on the stock. in a report on Tuesday, June 17th. Barclays dropped their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. UBS Group upped their price objective 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, JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Three equities research 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 data from MarketBeat.com, Millicom International Cellular has a consensus rating of "Moderate Buy" and a consensus target price of $38.08.

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.