Millicom International Cellular (NASDAQ:TIGO) Reaches New 12-Month High - Should You Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $32.92 and last traded at $32.50, with a volume of 661292 shares. The stock had previously closed at $32.34.

Analysts Set New Price Targets

TIGO has been the topic of a number of research analyst reports. HSBC raised Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 target price on the stock in a report on Wednesday, January 22nd. Barclays decreased their target price on 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. Scotiabank increased their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a "sector outperform" rating in a report on Friday, February 28th. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price target on the stock. Finally, Hsbc Global Res upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Two 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, the company presently has an average rating of "Moderate Buy" and an average target price of $35.65.

Millicom International Cellular Stock Down 0.6 %

The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 35.93 and a beta of 0.90. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average price of $29.39 and a 200 day moving average price of $27.32.

Millicom International Cellular Announces Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio is presently 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brandes Investment Partners LP lifted its holdings in shares of Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock worth $114,402,000 after purchasing an additional 68,061 shares during the period. Perpetual Ltd acquired a new position in Millicom International Cellular during the 4th quarter worth about $1,587,000. Assetmark Inc. grew its position in shares of Millicom International Cellular by 4,044.9% in the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company's stock valued at $687,000 after buying an additional 26,818 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Millicom International Cellular by 47.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company's stock valued at $3,993,000 after buying an additional 51,620 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of Millicom International Cellular during the fourth quarter worth about $474,000.

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.