State of Alaska Department of Revenue Makes New Investment in Millicom International Cellular SA $TIGO

State of Alaska Department of Revenue bought a new position in Millicom International Cellular SA (NASDAQ:TIGO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the technology company’s stock, valued at approximately $970,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after acquiring an additional 14,990 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Millicom International Cellular in the first quarter worth $2,188,000. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular during the first quarter valued at $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Millicom International Cellular during the first quarter valued at $8,504,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TIGO. Scotiabank boosted their target price on Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $70.00 in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.97.

Millicom International Cellular Stock Up 4.8%

Shares of TIGO stock opened at $58.71 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. Millicom International Cellular SA has a 12 month low of $25.50 and a 12 month high of $58.85. The stock has a market cap of $10.10 billion, a P/E ratio of 8.99 and a beta of 0.94. The company has a 50 day simple moving average of $53.07 and a two-hundred day simple moving average of $47.88.

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

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.