First Citizens Bank & Trust Co. Buys New Shares in Iridium Communications Inc $IRDM

Key Points

• First Citizens Bank & Trust Co. opened a new position in Iridium Communications, buying 25,728 shares worth about $714,000 in the first quarter.
• Iridium’s latest quarterly results were mixed: revenue beat estimates at $225.24 million, but EPS missed expectations at $0.09 versus $0.28 expected.
• The stock has drawn renewed analyst attention, including a New Street Research upgrade from neutral to buy and higher price targets from firms such as Morgan Stanley and Oppenheimer.

First Citizens Bank & Trust Co. bought a new position in shares of Iridium Communications Inc (NASDAQ:IRDM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,728 shares of the technology company's stock, valued at approximately $714,000.

Several other large investors also recently bought and sold shares of IRDM. Root Financial Partners LLC boosted its stake in shares of Iridium Communications by 1,750.0% in the 1st quarter. Root Financial Partners LLC now owns 1,332 shares of the technology company's stock valued at $37,000 after buying an additional 1,260 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Iridium Communications by 107.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company's stock worth $25,000 after buying an additional 741 shares during the period. Larson Financial Group LLC increased its stake in shares of Iridium Communications by 392.8% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company's stock worth $26,000 after buying an additional 1,202 shares during the period. Kestra Advisory Services LLC acquired a new stake in Iridium Communications in the fourth quarter valued at approximately $27,000. Finally, CIBC Private Wealth Group LLC purchased a new position in Iridium Communications in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 84.36% of the company's stock.

Iridium Communications Price Performance

Shares of IRDM opened at $47.64 on Friday. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.85 and a quick ratio of 2.21. Iridium Communications Inc has a 1-year low of $15.65 and a 1-year high of $57.18. The stock has a market cap of $5.04 billion, a PE ratio of 54.14, a price-to-earnings-growth ratio of 2.87 and a beta of 0.87. The firm has a fifty day moving average price of $47.93 and a 200 day moving average price of $34.79.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.19). Iridium Communications had a return on equity of 22.71% and a net margin of 10.55%.The firm had revenue of $225.24 million for the quarter, compared to analysts' expectations of $220.32 million. During the same period in the previous year, the business posted $0.20 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Iridium Communications Inc will post 1.02 EPS for the current year.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 15th. Iridium Communications's dividend payout ratio (DPR) is currently 68.18%.

Iridium Communications News Summary

Here are the key news stories impacting Iridium Communications this week:

• Positive Sentiment: New Street Research upgraded Iridium Communications (IRDM) from “neutral” to “buy,” signaling improved confidence in the stock’s outlook. Tickerreport.com
• Positive Sentiment: Iridium’s Q2 revenue came in ahead of estimates, helped by new satellite products and growth tied to Aireon and Rocket Lab-related strategic initiatives, which may support the company’s longer-term story. Zacks article
• Neutral Sentiment: The company announced second-quarter 2026 results and said the pending acquisition by Rocket Lab is expected to close in mid-2027, keeping investors focused on strategic execution and deal completion. PR Newswire release
• Negative Sentiment: Q2 earnings missed analyst expectations, with EPS well below forecasts, which may limit upside despite the revenue beat. Zacks article

Analyst Upgrades and Downgrades

Several research analysts have commented on IRDM shares. Morgan Stanley boosted their price target on shares of Iridium Communications from $26.00 to $54.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 30th. BWS Financial restated a "sell" rating and issued a $16.00 price objective on shares of Iridium Communications in a report on Monday, April 27th. Oppenheimer lifted their price objective on shares of Iridium Communications from $48.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Iridium Communications in a research note on Friday, July 10th. Finally, New Street Research upgraded Iridium Communications from a "neutral" rating to a "buy" rating in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $38.67.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company's unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium's core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.

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