10,837 Shares in Iridium Communications Inc. (NASDAQ:IRDM) Acquired by Integrated Advisors Network LLC

Integrated Advisors Network LLC bought a new position in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,837 shares of the technology company's stock, valued at approximately $296,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new position in Iridium Communications in the fourth quarter valued at $32,000. SBI Securities Co. Ltd. purchased a new stake in shares of Iridium Communications during the fourth quarter worth about $37,000. UMB Bank n.a. increased its stake in shares of Iridium Communications by 129.8% during the first quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock worth $38,000 after purchasing an additional 779 shares in the last quarter. Pinnacle Holdings LLC increased its stake 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 purchasing an additional 477 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Iridium Communications by 529.6% during the fourth quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock worth $73,000 after purchasing an additional 2,113 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRDM. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Barclays decreased their target price on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. 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 research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Oppenheimer began coverage on shares of Iridium Communications in a report on Monday, May 5th. They issued an "outperform" rating and a $34.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Iridium Communications currently has a consensus rating of "Moderate Buy" and an average price target of $34.25.

Iridium Communications Trading Down 2.0%

Shares of IRDM stock traded down $0.59 during trading hours on Friday, hitting $28.64. The company had a trading volume of 854,075 shares, compared to its average volume of 1,165,028. The company's fifty day moving average is $25.33 and its 200 day moving average is $27.83. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. Iridium Communications Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $35.85. The stock has a market capitalization of $3.10 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.28 and a beta of 0.75.

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. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The firm had revenue of $214.88 million for the quarter, compared to analyst estimates of $211.78 million. During the same period in the prior year, the business posted $0.17 EPS. Research analysts expect that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, June 13th. Iridium Communications's payout ratio is currently 52.83%.

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.