Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase – Should You Buy?

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-strong trading volume on Monday . Approximately 261,475 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 220,417 shares.The stock last traded at $29.69 and had previously closed at $29.94.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Scotiabank upped their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, January 22nd. Morgan Stanley initiated coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target for the company. Finally, Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $33.98.

Millicom International Cellular Stock Performance

The firm has a market capitalization of $5.10 billion, a P/E ratio of 31.46 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The company has a 50-day simple moving average of $27.58 and a two-hundred day simple moving average of $26.73.

Millicom International Cellular Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio (DPR) is 202.70%.

Institutional Trading of Millicom International Cellular

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake 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 worth $2,930,000 after acquiring an additional 52,638 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Millicom International Cellular during the third quarter valued at $168,000. Point72 Asset Management L.P. bought a new stake in Millicom International Cellular in the third quarter worth $87,000. Quantinno Capital Management LP purchased a new stake in shares of Millicom International Cellular in the third quarter worth $261,000. Finally, State Street Corp bought a new position in shares of Millicom International Cellular during the third quarter valued at $231,000.

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.