Spinnaker Trust Invests $212,000 in Millicom International Cellular SA (NASDAQ:TIGO)

Spinnaker Trust acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,000 shares of the technology company's stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. KBC Group NV purchased a new position in shares of Millicom International Cellular in the first quarter valued at approximately $233,000. EWA LLC acquired a new stake in Millicom International Cellular during the 1st quarter worth $201,000. CWA Asset Management Group LLC grew its stake in Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock worth $373,000 after buying an additional 3,141 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Millicom International Cellular during the first quarter worth approximately $399,000. Finally, Vident Advisory LLC grew its position in Millicom International Cellular by 24.7% during the 4th quarter. Vident Advisory LLC now owns 10,440 shares of the technology company's stock worth $261,000 after purchasing an additional 2,071 shares during the last quarter.

Analysts Set New Price Targets

TIGO has been the topic of several recent research reports. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. 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 report on Friday, May 16th. Scotiabank downgraded Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price target for the company. in a report on Tuesday, June 17th. Finally, Barclays lowered 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 research report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Millicom International Cellular has a consensus rating of "Moderate Buy" and a consensus target price of $38.08.

Millicom International Cellular Trading Down 0.7%

Millicom International Cellular stock traded down $0.27 during midday trading on Friday, reaching $37.86. The stock had a trading volume of 1,085,796 shares, compared to its average volume of 477,948. The stock has a market capitalization of $6.52 billion, a PE ratio of 18.20 and a beta of 1.06. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $38.50. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76. The stock's 50-day simple moving average is $36.05 and its 200 day simple moving average is $30.52.

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

Millicom International Cellular Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. Millicom International Cellular's payout ratio is 144.23%.

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.