Deutsche Bank AG raised its holdings in Iridium Communications (NASDAQ:IRDM) by 21.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 360,673 shares of the technology company’s stock after acquiring an additional 62,720 shares during the quarter. Deutsche Bank AG owned approximately 0.37% of Iridium Communications worth $4,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in IRDM. JPMorgan Chase & Co. grew its position in shares of Iridium Communications by 8.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 146,208 shares of the technology company’s stock worth $1,469,000 after buying an additional 11,989 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Iridium Communications by 23.8% during the 3rd quarter. Wells Fargo & Company MN now owns 271,423 shares of the technology company’s stock worth $2,796,000 after buying an additional 52,238 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Iridium Communications by 8.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 584,531 shares of the technology company’s stock worth $6,021,000 after buying an additional 44,141 shares in the last quarter. Bank of Montreal Can grew its position in shares of Iridium Communications by 2,291.8% during the 4th quarter. Bank of Montreal Can now owns 129,348 shares of the technology company’s stock worth $1,526,000 after buying an additional 123,940 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Iridium Communications during the 4th quarter worth $1,010,000. 89.90% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently issued reports on IRDM shares. Zacks Investment Research raised Iridium Communications from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, December 26th. ValuEngine downgraded Iridium Communications from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, BidaskClub raised Iridium Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $13.00.

Shares of IRDM stock opened at $12.45 on Tuesday. Iridium Communications has a 1-year low of $9.68 and a 1-year high of $13.25. The stock has a market cap of $1,337.74, a P/E ratio of 17.79, a P/E/G ratio of 33.79 and a beta of 1.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.83 and a current ratio of 1.92.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, February 22nd. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.24). Iridium Communications had a net margin of 52.19% and a return on equity of 7.21%. The company had revenue of $115.50 million for the quarter, compared to the consensus estimate of $111.71 million. During the same period in the previous year, the business earned $0.19 EPS. Iridium Communications’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities analysts anticipate that Iridium Communications will post 0.07 earnings per share for the current fiscal year.

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About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.

Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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