Brandes Investment Partners 13F: Cuts TIGO Stake by $146M

Brandes Trims Stake in TIGO

Brandes Investment Partners reduced its holdings in Millicom International Cellular S.A. (NasdaqGS: TIGO) during the period. According to a Form 13F filed with the SEC, the institutional investor trimmed its position by 1,575,489 shares, marking a 32.6% decrease. The firm held 4,836,505 shares before the move and ended the period with 3,261,016 shares. That remaining block carried a reported value of about $302.57 million. Because 13F filings look backward at holdings on a specific date, this snapshot might not reflect the firm's current stance today.

TIGO Stock Performance and Valuation

Millicom shares changed hands at $92.78 ahead of the latest updates. The company carries a price-to-earnings ratio of 23.7 and a forward price-to-earnings ratio of 13.5. Trading volume and market trends have kept the equity moving in a broad range, with a 52-week low of $44.88 and a high of $107.13. Investors continue to monitor these price levels as broader telecom sector conditions evolve.

Insider Buying and Selling at Millicom International Cellular S.A.

Corporate figures have also adjusted their personal holdings in the business. Lesina Karim Antonio, serving as EVP and CEA Officer, parted with 42,497 shares on June 11, 2026. The transaction took place at an average price of $90.00, resulting in a total value of about $3.82 million. Insider sales of this nature form part of standard personal portfolio management and do not inherently signal a directional shift for the business.

Wall Street Analyst Adjustments

Financial research institutions recently refreshed their views on TIGO. On July 14, 2026, UBS kept a neutral rating while adjusting its price target to $100.00 from $90.00. Later, on August 8, 2026, Scotiabank maintained a sector underperform rating and set a target of $60.10. On August 18, 2026, JP Morgan downgraded the stock to a neutral rating and moved its target to $105.00 from $100.00. Across the wider analyst community, the stock holds a consensus target price of $98.39 based on eight opinions.

What Millicom Does

Millicom International Cellular S.A. provides cable and mobile services across Latin America. The enterprise delivers mobile data, voice services, financial transfers, broadband, pay-TV, and business cloud solutions under the Tigo and Tigo Business banners. Founded in 1990 and headquartered in Luxembourg, the firm connects millions of residential and corporate clients.

Looking Ahead for TIGO

Market participants will look toward Millicom's next earnings report on November 5, 2026, for updates on revenue growth and profit margins. Institutional filings and analyst updates will continue to shape how large investors approach the telecom operator in the coming quarters.