KLP Kapitalforvaltning AS Purchases 1,800 Shares of Millicom International Cellular SA $TIGO

KLP Kapitalforvaltning AS lifted its position in Millicom International Cellular SA (NASDAQ:TIGO) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,867 shares of the technology company’s stock after buying an additional 1,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Millicom International Cellular were worth $4,042,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Boston Partners bought a new stake in shares of Millicom International Cellular in the 1st quarter valued at $73,286,000. Teacher Retirement System of Texas bought a new position in Millicom International Cellular during the 1st quarter worth about $1,402,000. KBC Group NV bought a new position in Millicom International Cellular during the 1st quarter worth about $233,000. CWA Asset Management Group LLC increased its holdings in Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company’s stock worth $373,000 after purchasing an additional 3,141 shares in the last quarter. Finally, Militia Capital Partners LP bought a new position in Millicom International Cellular during the 1st quarter worth about $908,000.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $47.62 on Friday. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 8.40 and a beta of 1.11. The business has a 50-day moving average of $46.73 and a 200-day moving average of $39.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. Millicom International Cellular SA has a fifty-two week low of $23.61 and a fifty-two week high of $50.78.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. As a group, sell-side analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Scotiabank increased their target price on Millicom International Cellular from $37.00 to $46.10 and gave the stock a “sector perform” rating in a report on Tuesday, August 19th. Zacks Research cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and increased their target price for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.02.

Millicom International Cellular Company 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.