Millicom International Cellular (NASDAQ:TIGO) Reaches New 52-Week High – Time to Buy?

Millicom International Cellular SA (NASDAQ:TIGO) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $68.93 and last traded at $68.28, with a volume of 1715567 shares. The stock had previously closed at $66.95.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Scotiabank downgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $46.80 to $43.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Three 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.00.

Millicom International Cellular Stock Up 1.8%

The stock has a 50 day moving average price of $56.90 and a 200 day moving average price of $50.83. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 0.93. The company has a market capitalization of $11.31 billion, a P/E ratio of 10.07 and a beta of 0.93.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors have recently bought and sold shares of TIGO. JPMorgan Chase & Co. increased its position in Millicom International Cellular by 348.9% in the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after buying an additional 5,020,602 shares during the last quarter. Perpetual Ltd lifted its position in shares of Millicom International Cellular by 5,283.2% during the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock valued at $132,610,000 after buying an additional 2,681,221 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular during the 1st quarter worth $50,664,000. Northwestern Mutual Wealth Management Co. increased its holdings in Millicom International Cellular by 46,519.0% in 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 acquiring an additional 1,260,666 shares during the last quarter. Finally, Tredje AP fonden bought a new stake in Millicom International Cellular in the 4th quarter valued at about $60,459,000.

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.