Iridium Communications Inc $IRDM Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Iridium Communications Inc (NASDAQ:IRDM) by 130.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 396,642 shares of the technology company’s stock after buying an additional 224,322 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Iridium Communications were worth $7,044,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Iridium Communications by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 10,157,227 shares of the technology company’s stock worth $176,533,000 after buying an additional 677,258 shares during the period. ARK Investment Management LLC boosted its position in Iridium Communications by 21.7% in the 3rd quarter. ARK Investment Management LLC now owns 6,490,108 shares of the technology company’s stock valued at $113,317,000 after buying an additional 1,156,580 shares during the last quarter. Silver Heights Capital Management Inc grew its stake in shares of Iridium Communications by 22.7% during the third quarter. Silver Heights Capital Management Inc now owns 5,189,703 shares of the technology company’s stock valued at $90,612,000 after acquiring an additional 961,440 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Iridium Communications by 0.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,343,670 shares of the technology company’s stock valued at $75,840,000 after acquiring an additional 27,907 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Iridium Communications by 265.8% during the third quarter. Millennium Management LLC now owns 3,039,731 shares of the technology company’s stock worth $53,074,000 after acquiring an additional 2,208,857 shares during the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Stock Performance

Shares of Iridium Communications stock opened at $41.46 on Monday. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.21 and a current ratio of 2.85. Iridium Communications Inc has a 1 year low of $15.65 and a 1 year high of $44.36. The firm’s 50-day simple moving average is $31.41 and its 200-day simple moving average is $23.13. The firm has a market cap of $4.38 billion, a PE ratio of 41.88, a price-to-earnings-growth ratio of 2.82 and a beta of 0.79.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Thursday, April 23rd. The technology company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). Iridium Communications had a return on equity of 22.76% and a net margin of 12.05%.The firm had revenue of $219.06 million during the quarter, compared to analyst estimates of $218.39 million. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Iridium Communications Inc will post 1.04 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a $0.15 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.4%. Iridium Communications’s dividend payout ratio (DPR) is presently 60.61%.

Insider Buying and Selling at Iridium Communications

In related news, CAO Timothy Kapalka sold 2,043 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $33.00, for a total transaction of $67,419.00. Following the sale, the chief accounting officer directly owned 45,721 shares of the company’s stock, valued at approximately $1,508,793. This represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.70% of the company’s stock.

Trending Headlines about Iridium Communications

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

• Positive Sentiment: Zacks Research raised its Q2 2026 earnings estimate to $0.21 per share from $0.19, indicating a modest improvement in the near-term outlook.
• Neutral Sentiment: A commentary piece highlighted “2 reasons to like IRDM and 1 to stay skeptical,” reinforcing that the stock still has both bullish and cautious views around it. 2 reasons to like IRDM and 1 to stay skeptical
• Negative Sentiment: Zacks Research lowered FY2026 EPS to $0.90 from $0.99 and trimmed FY2027 EPS to $1.08 from $1.16, pointing to softer profit expectations over the next two years.
• Negative Sentiment: The firm also cut several quarterly estimates, including Q3 2026, Q4 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, and Q1 2028, which may pressure valuation sentiment.
• Negative Sentiment: FY2028 EPS was reduced to $1.52 from $1.68, suggesting analysts see less upside in Iridium’s longer-term earnings power.

Wall Street Analyst Weigh In

Several research firms recently commented on IRDM. BWS Financial reiterated a “sell” rating and issued a $16.00 price target on shares of Iridium Communications in a research note on Monday, April 27th. Morgan Stanley raised their price objective on Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Barclays lifted their price objective on Iridium Communications from $25.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Raymond James Financial reiterated a “market perform” rating on shares of Iridium Communications in a research note on Friday, April 24th. Finally, Weiss Ratings raised shares of Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Iridium Communications presently has an average rating of “Hold” and a consensus target price of $26.00.

About Iridium Communications

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.