Nomura Holdings Inc. Purchases Shares of 15,106 Iridium Communications Inc. (NASDAQ:IRDM)

Nomura Holdings Inc. purchased a new stake in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,106 shares of the technology company's stock, valued at approximately $438,000.

Several other large investors have also modified their holdings of the business. Nuveen Asset Management LLC raised its holdings in shares of Iridium Communications by 1.8% in the 4th quarter. Nuveen Asset Management LLC now owns 590,023 shares of the technology company's stock valued at $17,122,000 after purchasing an additional 10,226 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Iridium Communications by 196.3% in the 4th quarter. Lazard Asset Management LLC now owns 56,164 shares of the technology company's stock valued at $1,629,000 after purchasing an additional 37,206 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of Iridium Communications by 10.2% in the 4th quarter. Gotham Asset Management LLC now owns 703,393 shares of the technology company's stock valued at $20,412,000 after purchasing an additional 65,349 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Iridium Communications in the 4th quarter valued at about $634,000. Finally, Bridgefront Capital LLC raised its holdings in shares of Iridium Communications by 33.1% in the 4th quarter. Bridgefront Capital LLC now owns 9,699 shares of the technology company's stock valued at $281,000 after purchasing an additional 2,411 shares in the last quarter. Institutional investors own 84.36% of the company's stock.

Iridium Communications Stock Up 4.0%

Shares of NASDAQ IRDM traded up $1.01 during trading hours on Tuesday, hitting $26.23. 1,167,092 shares of the stock were exchanged, compared to its average volume of 1,158,956. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. The company has a market cap of $2.84 billion, a PE ratio of 27.61, a PEG ratio of 1.28 and a beta of 0.74. The firm has a fifty day moving average price of $25.24 and a 200-day moving average price of $28.00. Iridium Communications Inc. has a 12 month low of $19.91 and a 12 month high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The business had revenue of $214.88 million for the quarter, compared to analyst estimates of $211.78 million. During the same quarter in the prior year, the business posted $0.17 EPS. On average, sell-side analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.13%. Iridium Communications's payout ratio is 52.83%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IRDM. Barclays reduced their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Wall Street Zen lowered shares of Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 22nd. BWS Financial reduced their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Finally, Oppenheimer began coverage on shares of Iridium Communications in a research note on Monday, May 5th. They set an "outperform" rating and a $34.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Iridium Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.25.

Iridium Communications Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.