William Blair Investment Management LLC Boosts Stock Position in Millicom International Cellular SA $TIGO

William Blair Investment Management LLC grew its stake in Millicom International Cellular SA (NASDAQ:TIGO) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,350 shares of the technology company’s stock after purchasing an additional 16,695 shares during the quarter. William Blair Investment Management LLC owned approximately 0.07% of Millicom International Cellular worth $6,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new stake in shares of Millicom International Cellular in the 3rd quarter valued at $4,010,000. State of Alaska Department of Revenue acquired a new position in shares of Millicom International Cellular during the third quarter worth approximately $970,000. Plato Investment Management Ltd bought a new stake in shares of Millicom International Cellular in the third quarter valued at approximately $875,000. Itau Unibanco Holding S.A. raised its position in shares of Millicom International Cellular by 52.7% during the second quarter. Itau Unibanco Holding S.A. now owns 703,267 shares of the technology company’s stock valued at $26,351,000 after buying an additional 242,569 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Millicom International Cellular by 21.9% during the second quarter. JPMorgan Chase & Co. now owns 1,439,114 shares of the technology company’s stock valued at $53,924,000 after purchasing an additional 258,635 shares during the period.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $72.02 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86. Millicom International Cellular SA has a one year low of $25.50 and a one year high of $75.25. The firm has a market cap of $12.39 billion, a PE ratio of 9.17 and a beta of 0.90. The stock’s fifty day moving average price is $61.01 and its two-hundred day moving average price is $53.38.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.Millicom International Cellular’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, research analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TIGO. Morgan Stanley reiterated a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. Zacks Research cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Scotiabank lowered shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and cut their price objective for the company from $46.80 to $43.00 in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Hold” and a consensus price target of $53.40.

Millicom International Cellular Company Profile

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.