Handelsbanken Fonder AB Increases Stake in Millicom International Cellular SA $TIGO

Handelsbanken Fonder AB boosted its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 51.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,400 shares of the technology company’s stock after buying an additional 12,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Millicom International Cellular were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TIGO. Smartleaf Asset Management LLC raised its holdings in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after acquiring an additional 314 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Millicom International Cellular during the third quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new position in Millicom International Cellular during the third quarter valued at $28,000. Ameritas Advisory Services LLC purchased a new position in shares of Millicom International Cellular in the 3rd quarter worth about $32,000. Finally, CWM LLC purchased a new position in Millicom International Cellular in the third quarter worth about $42,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their price target 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. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Morgan Stanley restated a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. Finally, UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $53.40.

Millicom International Cellular Stock Up 0.7%

Shares of TIGO opened at $72.50 on Thursday. Millicom International Cellular SA has a 52-week low of $26.07 and a 52-week high of $75.25. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The business has a fifty day moving average of $61.37 and a 200 day moving average of $53.52. The company has a market cap of $12.48 billion, a PE ratio of 9.24 and a beta of 0.90.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current year.

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.