Iridium Communications Stock Forecast, Price & News

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Iridium Communications in the last twelve months. There are currently 3 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" Iridium Communications stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in IRDM, but not buy additional shares or sell existing shares.
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Iridium Communications is scheduled to release its next quarterly earnings announcement on Tuesday, October 19th 2021.
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Iridium Communications Inc. (NASDAQ:IRDM) announced its earnings results on Monday, July, 19th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of ($0.06) by $0.09. The technology company earned $149.92 million during the quarter, compared to analyst estimates of $148.53 million. Iridium Communications had a negative trailing twelve-month return on equity of 0.96% and a negative net margin of 2.23%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) EPS.
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Iridium Communications' stock was trading at $23.02 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, IRDM shares have increased by 95.4% and is now trading at $44.98.
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Iridium Communications declared that its board has initiated a share buyback program on Thursday, February 11th 2021, which authorizes the company to buyback $300,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

5 brokerages have issued 12-month price targets for Iridium Communications' stock. Their forecasts range from $37.00 to $50.00. On average, they anticipate Iridium Communications' stock price to reach $42.75 in the next twelve months. This suggests that the stock has a possible downside of 5.0%.
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48 employees have rated Iridium Communications CEO Matt Desch on Glassdoor.com. Matt Desch has an approval rating of 70% among Iridium Communications' employees.

Some companies that are related to Iridium Communications include Lumentum (LITE), AAC Technologies (AACAY), ESCO Technologies (ESE), Vocera Communications (VCRA), Inseego (INSG), ADVA Optical Networking (ADVOF), Napco Security Technologies (NSSC), Turtle Beach (HEAR), Rekor Systems (REKR), PowerFleet (PWFL), Iteris (ITI), Ealixir (EAXR), COMSovereign (COMS), Magal Security Systems (MAGS) and Vislink Technologies (VISL).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Iridium Communications investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Micron Technology (MU), Verizon Communications (VZ), Square (SQ), Bank of America (BAC), AT&T (T), General Electric (GE) and The Boeing (BA).

Iridium Communications trades on the NASDAQ under the ticker symbol "IRDM."

Iridium Communications' stock is owned by a number of retail and institutional investors. Top institutional shareholders include ARK Investment Management LLC (10.30%), BlackRock Inc. (9.91%), Vanguard Group Inc. (9.13%), Bamco Inc. NY (8.90%), Capital International Investors (5.63%) and Nikko Asset Management Americas Inc. (3.38%). Company insiders that own Iridium Communications stock include Barry West, Bryan J Hartin, Leon Anthony Frazier, Matthew J Desch, Robert H Niehaus, Scott Scheimreif, Steven B Pfeiffer, Suzanne E Mcbride, Thomas C Canfield, Thomas D Hickey, Thomas Fitzpatrick and Timothy Kapalka.
View institutional ownership trends for Iridium Communications.

IRDM stock was sold by a variety of institutional investors in the last quarter, including Bamco Inc. NY, Dimensional Fund Advisors LP, BlackRock Inc., Van Berkom & Associates Inc., BNP Paribas Arbitrage SA, First Trust Advisors LP, Invesco Ltd., and Bank of America Corp DE. Company insiders that have sold Iridium Communications company stock in the last year include Barry West, Bryan J Hartin, Matthew J Desch, Robert H Niehaus, Scott Scheimreif, Suzanne E Mcbride, Thomas C Canfield, Thomas Fitzpatrick, and Timothy Kapalka.
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IRDM stock was acquired by a variety of institutional investors in the last quarter, including ARK Investment Management LLC, Sumitomo Mitsui Trust Holdings Inc., Nikko Asset Management Americas Inc., Goldman Sachs Group Inc., Capital International Investors, Vanguard Group Inc., State Street Corp, and JPMorgan Chase & Co..
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Shares of IRDM can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of IRDM stock can currently be purchased for approximately $44.98.

Iridium Communications has a market capitalization of $5.93 billion and generates $583.44 million in revenue each year. The technology company earns $-56,050,000.00 in net income (profit) each year or ($0.24) on an earnings per share basis.

Iridium Communications employs 519 workers across the globe.

The following companies are subsidiares of Iridium Communications: Iridium Blocker-B Inc., Iridium Carrier Holdings LLC, Iridium Carrier Services LLC, Iridium Chile SpA, Iridium Constellation LLC, Iridium Government Services LLC, Iridium Holdings LLC, Iridium Satellite LLC, Iridium Satellite SA LLC, OOO Iridium Communications, OOO Iridium Services, and Syncom-Iridium Holdings Corp..

Iridium Communications was founded in 2000.

The official website for Iridium Communications is www.iridium.com.

Iridium Communications is headquartered at 1750 TYSONS BOULEVARD SUITE 1400, MCLEAN VA, 22102.

Iridium Communications' mailing address is 1750 TYSONS BOULEVARD SUITE 1400, MCLEAN VA, 22102. The technology company can be reached via phone at (703) 287-7400 or via email at [email protected]