KLP Kapitalforvaltning AS Invests $3.21 Million in Millicom International Cellular SA (NASDAQ:TIGO)

KLP Kapitalforvaltning AS purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 106,067 shares of the technology company’s stock, valued at approximately $3,211,000. KLP Kapitalforvaltning AS owned about 0.06% of Millicom International Cellular as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TIGO. State of Wyoming acquired a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $49,000. Wells Fargo & Company MN raised its stake in Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock worth $122,000 after acquiring an additional 2,055 shares in the last quarter. EWA LLC acquired a new position in Millicom International Cellular during the 1st quarter worth approximately $201,000. Spinnaker Trust bought a new position in Millicom International Cellular in the 1st quarter valued at approximately $212,000. Finally, KBC Group NV acquired a new stake in Millicom International Cellular in the first quarter valued at approximately $233,000.

Millicom International Cellular Trading Down 0.7%

NASDAQ TIGO opened at $40.40 on Friday. The firm has a market capitalization of $6.95 billion, a PE ratio of 19.42 and a beta of 1.06. The business’s 50-day moving average price is $37.64 and its two-hundred day moving average price is $32.13. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 month high of $43.03.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.91 by $0.23. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. On average, analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular’s dividend payout ratio is currently 144.23%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TIGO. UBS Group boosted their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a “buy” rating in a research note on Friday, May 16th. Scotiabank lowered Millicom International Cellular from a “sector outperform” rating to a “sector perform” rating and set a $37.00 price objective on the stock. in a research report on Tuesday, June 17th. Barclays dropped their target price on Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Wall Street Zen lowered Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.08.

Millicom International Cellular Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.