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

Millicom International Cellular S.A. (NASDAQ:TIGO) reached a new 52-week high on Friday . The stock traded as high as $32.46 and last traded at $32.45, with a volume of 1371810 shares trading hands. The stock had previously closed at $30.65.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TIGO shares. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. Morgan Stanley began coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price for the company. Scotiabank lifted their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and an average price target of $35.65.

Millicom International Cellular Trading Up 5.9 %

The company has a 50 day moving average of $28.56 and a 200 day moving average of $27.02. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 34.52 and a beta of 0.90. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular Announces Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio is presently 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP grew its stake in Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after buying an additional 68,061 shares during the last quarter. Southeastern Asset Management Inc. TN acquired a new position in shares of Millicom International Cellular in the 4th quarter worth approximately $60,306,000. LB Partners LLC grew its position in Millicom International Cellular by 1.4% during the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock worth $12,978,000 after acquiring an additional 7,000 shares during the last quarter. Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the 4th quarter valued at $6,165,000. Finally, Charles Schwab Investment Management Inc. raised its position in Millicom International Cellular by 47.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock valued at $3,993,000 after purchasing an additional 51,620 shares during the last quarter.

About Millicom International Cellular

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.