Millicom International Cellular SA $TIGO Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 38.8% during the first quarter, Holdings Channel.com reports. The fund owned 75,751 shares of the technology company’s stock after acquiring an additional 21,175 shares during the period. Hsbc Holdings PLC’s holdings in Millicom International Cellular were worth $5,712,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TIGO. Goldman Sachs Group Inc. purchased a new position in shares of Millicom International Cellular in the 1st quarter valued at approximately $50,664,000. Northwestern Mutual Wealth Management Co. grew its position in Millicom International Cellular by 46,519.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock worth $70,042,000 after purchasing an additional 1,260,666 shares during the last quarter. Tredje AP fonden purchased a new stake in Millicom International Cellular during the 4th quarter worth approximately $60,459,000. State Street Corp increased its stake in Millicom International Cellular by 129.2% during the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock valued at $68,198,000 after purchasing an additional 1,026,063 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Millicom International Cellular in the fourth quarter worth $55,440,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Scotiabank lifted their price target on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. Finally, UBS Group boosted their price target on Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $79.28.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $96.25 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 12 month low of $39.01 and a 12 month high of $100.75. The company has a 50 day simple moving average of $89.54 and a two-hundred day simple moving average of $77.44. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 13.08 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. As a group, analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the sale, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 50,140 shares of company stock worth $4,425,461 in the last three months. Insiders own 0.52% of the company’s stock.

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.