Franklin Resources Inc. Purchases New Position in Millicom International Cellular SA $TIGO

Franklin Resources Inc. acquired a new position in Millicom International Cellular SA (NASDAQ:TIGO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,501 shares of the technology company’s stock, valued at approximately $1,293,000.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas purchased a new stake in Millicom International Cellular in the second quarter worth $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Millicom International Cellular in the 1st quarter worth about $84,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Millicom International Cellular by 65.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock worth $190,000 after acquiring an additional 2,489 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Millicom International Cellular in the 1st quarter worth about $218,000. Finally, Amalgamated Bank purchased a new position in Millicom International Cellular during the 2nd quarter valued at about $220,000.

Millicom International Cellular Price Performance

Shares of TIGO opened at $50.20 on Friday. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $56.27. The company has a market capitalization of $8.64 billion, a P/E ratio of 7.69 and a beta of 0.93. The firm has a 50 day moving average of $49.37 and a 200 day moving average of $44.24. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.21). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The firm’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TIGO shares. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Scotiabank upped their price target on Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

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.