Analysts Set Millicom International Cellular S.A. (NASDAQ:TIGO) PT at $30.66

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $30.66.

TIGO has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on Millicom International Cellular in a report on Friday, September 6th. They set an "overweight" rating and a $35.00 price target for the company. Scotiabank upgraded shares of Millicom International Cellular from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $30.00 to $37.30 in a research note on Friday, September 20th. Finally, UBS Group upgraded shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and upped their target price for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th.

Millicom International Cellular Stock Down 1.6 %

TIGO stock traded down $0.45 on Wednesday, reaching $26.87. 64,560 shares of the company traded hands, compared to its average volume of 87,206. The firm has a fifty day simple moving average of $27.10 and a 200-day simple moving average of $25.13. Millicom International Cellular has a one year low of $15.55 and a one year high of $28.75. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.72.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of TIGO. Price T Rowe Associates Inc. MD purchased a new position in shares of Millicom International Cellular during the first quarter valued at approximately $1,216,000. SG Americas Securities LLC raised its stake in Millicom International Cellular by 13.1% during the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company's stock valued at $160,000 after buying an additional 920 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Millicom International Cellular by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company's stock valued at $7,874,000 after buying an additional 83,939 shares during the period. Millennium Management LLC boosted its stake in shares of 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 last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Millicom International Cellular in the second quarter worth $67,000.

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.