NEW YORK ( TheStreet) -- Millicom International Cellular (Nasdaq: MICC) hit a new 52-week high Wednesday as it is currently trading at $104.89, above its previous 52-week high of $102.72 with 103,621 shares traded as of 9:38 a.m. ET. Average volume has been 477,000 shares over the past 30 days.

Millicom International Cellular has a market cap of $10.4 billion and is part of the technology sector and telecommunications industry. Shares are up 5.7% year to date as of the close of trading on Tuesday.

Millicom International Cellular S.A., together with its subsidiaries, operates as a global telecommunications group with mobile telephony operations in 14 countries in Central America, South America, Africa, and Asia. The company has a P/E ratio of 6.3, equal to the average telecommunications industry P/E ratio and below the S&P 500 P/E ratio of 16.3.
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TheStreet Ratings rates Millicom International Cellular as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, attractive valuation levels, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Millicom International Cellular Ratings Report.

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Millicom International Cellular Reaches New 52-Week High (MICC)

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