State Street Corp Makes New $231,000 Investment in Millicom International Cellular S.A. (NASDAQ:TIGO)

State Street Corp bought a new stake in shares of Millicom International Cellular S.A. (NASDAQ:TIGO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,500 shares of the technology company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TIGO. Millennium Management LLC increased its stake in Millicom International Cellular by 138.9% in the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after buying an additional 157,205 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Millicom International Cellular by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock valued at $7,874,000 after purchasing an additional 83,939 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Millicom International Cellular by 95.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after buying an additional 52,638 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Millicom International Cellular during the second quarter worth $884,000. Finally, Silver Lake Advisory LLC purchased a new stake in Millicom International Cellular during the second quarter worth $260,000.

Millicom International Cellular Stock Down 2.6 %

TIGO stock opened at $24.48 on Friday. The firm’s fifty day simple moving average is $25.74 and its 200-day simple moving average is $25.81. The company has a market capitalization of $2.49 billion, a P/E ratio of 26.04 and a beta of 1.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular S.A. has a 12 month low of $15.55 and a 12 month high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts forecast that Millicom International Cellular S.A. will post 1.98 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, January 3rd will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, January 3rd. Millicom International Cellular’s payout ratio is currently 280.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TIGO. JPMorgan Chase & Co. assumed coverage on shares of Millicom International Cellular in a research report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price objective on the stock. Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $30.00 to $37.30 in a report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.66.

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.