Spinnaker Trust Takes Position 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 the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,000 shares of the technology company's stock, valued at approximately $212,000.

A number of other hedge funds also recently made changes to their positions in TIGO. State of Wyoming bought a new stake in shares of Millicom International Cellular during the 4th quarter worth about $49,000. Wells Fargo & Company MN boosted its holdings in shares of Millicom International Cellular by 72.4% during the fourth 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 during the period. EWA LLC bought a new stake in shares of Millicom International Cellular during the first quarter worth approximately $201,000. Jones Financial Companies Lllp grew its position in shares of Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock valued at $227,000 after purchasing an additional 545 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Millicom International Cellular during the first quarter worth approximately $233,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TIGO shares. Scotiabank cut 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. Barclays dropped their target price on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Wall Street Zen cut shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Finally, UBS Group lifted their price objective on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Millicom International Cellular presently has an average rating of "Moderate Buy" and an average target price of $38.08.

Millicom International Cellular Price Performance

TIGO stock traded up $0.06 during midday trading on Tuesday, reaching $37.53. The company had a trading volume of 876,067 shares, compared to its average volume of 470,354. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 18.04 and a beta of 1.08. The stock has a 50 day moving average price of $35.74 and a 200-day moving average price of $30.32. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $38.50. 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 (NASDAQ:TIGO - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a net margin of 6.20% and a return on equity of 10.02%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm earned $0.54 EPS. The business's quarterly revenue was down 7.6% compared to the same quarter last year. Equities research analysts expect that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio is currently 144.23%.

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.