15,106 Shares in Iridium Communications Inc. (NASDAQ:IRDM) Bought by Nomura Holdings Inc.

Nomura Holdings Inc. bought a new position in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,106 shares of the technology company's stock, valued at approximately $438,000.

Several other large investors have also recently modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in shares of Iridium Communications during the 4th quarter valued at approximately $32,000. SBI Securities Co. Ltd. bought a new stake in Iridium Communications during the 4th quarter valued at $37,000. Pinnacle Holdings LLC lifted its position in shares of Iridium Communications by 45.4% during the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after acquiring an additional 477 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock worth $63,000 after acquiring an additional 357 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Iridium Communications by 529.6% in the fourth quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock worth $73,000 after acquiring an additional 2,113 shares during the period. Hedge funds and other institutional investors own 84.36% of the company's stock.

Wall Street Analyst Weigh In

IRDM has been the topic of a number of analyst reports. Oppenheimer started coverage on Iridium Communications in a research note on Monday, May 5th. They set an "outperform" rating and a $34.00 price objective on the stock. Wall Street Zen cut Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 22nd. Barclays cut their price objective on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, BWS Financial decreased their target price on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $34.25.

Iridium Communications Price Performance

Iridium Communications stock traded up $0.90 during midday trading on Tuesday, hitting $26.12. 89,180 shares of the company's stock were exchanged, compared to its average volume of 1,154,739. The company has a market cap of $2.82 billion, a P/E ratio of 27.43, a PEG ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a 50-day moving average price of $25.27 and a two-hundred day moving average price of $28.01. Iridium Communications Inc. has a 52-week low of $19.91 and a 52-week high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, equities research analysts forecast that Iridium Communications Inc. will post 0.89 earnings per share 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 $0.14 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.14%. Iridium Communications's dividend payout ratio is presently 52.83%.

About Iridium Communications

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.