Teacher Retirement System of Texas Makes New Investment in Millicom International Cellular SA (NASDAQ:TIGO)

Teacher Retirement System of Texas acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 46,308 shares of the technology company's stock, valued at approximately $1,402,000.

A number of other hedge funds have also bought and sold shares of TIGO. State of Wyoming bought a new position in Millicom International Cellular during the fourth quarter valued at $49,000. Wells Fargo & Company MN increased its position in 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 valued at $122,000 after acquiring an additional 2,055 shares during the last quarter. EWA LLC bought a new position in Millicom International Cellular during the first quarter valued at $201,000. Spinnaker Trust bought a new position in Millicom International Cellular during the first quarter valued at $212,000. Finally, KBC Group NV bought a new position in Millicom International Cellular during the first quarter valued at $233,000.

Analysts Set New Price Targets

A number of research firms have weighed in on TIGO. 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. Barclays cut 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. JPMorgan Chase & Co. boosted their target price on shares of 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 shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Scotiabank lowered shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price for the company. in a research note on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.08.

Millicom International Cellular Trading Up 1.2%

Shares of TIGO traded up $0.45 during trading hours on Friday, reaching $37.89. 698,881 shares of the company traded hands, compared to its average volume of 493,802. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 18.22 and a beta of 1.06. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $38.92. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65. The stock's fifty day moving average price is $36.52 and its 200 day moving average price is $31.11.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. Sell-side analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 7.92%. The ex-dividend date of this dividend is Tuesday, July 8th. Millicom International Cellular's dividend payout ratio (DPR) is presently 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.