Millicom International Cellular’s (TIGO) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Millicom International Cellular (NASDAQ:TIGO) in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have a $105.00 price target on the technology company’s stock, up from their previous price target of $100.00.

Several other equities analysts have also weighed in on TIGO. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Millicom International Cellular in a research note on Friday, August 7th. Royal Bank Of Canada set a $105.00 price target on shares of Millicom International Cellular in a research report on Tuesday. Finally, Scotiabank lifted their price objective on shares of Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.68.

Millicom International Cellular Stock Performance

TIGO stock opened at $90.47 on Tuesday. Millicom International Cellular has a twelve month low of $44.88 and a twelve month high of $107.13. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07. The company has a market cap of $15.29 billion, a P/E ratio of 22.85 and a beta of 0.91. The business’s fifty day moving average is $93.21 and its 200-day moving average is $82.69.

Insider Buying and Selling at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider directly owned 165,344 shares in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Trading of Millicom International Cellular

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Millicom International Cellular by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after buying an additional 253,891 shares during the period. State Street Corp raised its holdings in shares of Millicom International Cellular by 14.9% during the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock worth $126,364,000 after acquiring an additional 296,319 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular during the first quarter worth $50,664,000. Boston Partners lifted its position in Millicom International Cellular by 2.7% in the 4th quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock valued at $88,911,000 after acquiring an additional 41,765 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Millicom International Cellular by 128.2% in the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock valued at $61,699,000 after acquiring an additional 714,158 shares in the last quarter.

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.