Millicom International Cellular (NASDAQ:TIGO) Sets New 52-Week High – Here’s What Happened

Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $32.46 and last traded at $32.45, with a volume of 1371810 shares trading hands. The stock had previously closed at $30.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TIGO shares. Scotiabank increased their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research note on Friday, February 28th. 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 research note on Wednesday, January 22nd. Morgan Stanley started coverage on 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. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their target price on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. Two 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

Millicom International Cellular Price Performance

The stock has a market cap of $5.58 billion, a PE ratio of 34.52 and a beta of 0.90. The business has a fifty day simple moving average of $28.67 and a two-hundred day simple moving average of $27.06. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular Dividend Announcement

The firm also recently declared 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 was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio (DPR) is currently 202.70%.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Perpetual Ltd purchased a new stake in shares of Millicom International Cellular in the fourth quarter worth $1,587,000. Brandes Investment Partners LP boosted its stake in Millicom International Cellular by 1.5% in the 4th 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 in the last quarter. Assetmark Inc. grew its position in Millicom International Cellular by 4,044.9% during the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company’s stock valued at $687,000 after purchasing an additional 26,818 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Millicom International Cellular by 47.8% during 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 purchasing an additional 51,620 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in Millicom International Cellular in the fourth quarter worth about $474,000.

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.