First Citizens Bank & Trust Co. Acquires Shares of 25,728 Iridium Communications Inc $IRDM

First Citizens Bank & Trust Co. acquired a new stake in shares of Iridium Communications Inc (NASDAQ:IRDM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,728 shares of the technology company’s stock, valued at approximately $714,000.

Other hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in Iridium Communications by 107.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock valued at $25,000 after buying an additional 741 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Iridium Communications by 392.8% in the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,202 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Iridium Communications during the fourth quarter worth about $27,000. CIBC Private Wealth Group LLC acquired a new position in shares of Iridium Communications during the third quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Iridium Communications by 10,363.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,988 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,969 shares in the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IRDM shares. Morgan Stanley lifted their price objective on Iridium Communications from $26.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, June 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Iridium Communications in a report on Friday, July 10th. BWS Financial restated a “sell” rating and issued a $16.00 price target on shares of Iridium Communications in a research note on Monday, April 27th. Oppenheimer increased their price objective on Iridium Communications from $48.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, William Blair downgraded Iridium Communications from an “outperform” rating to a “hold” rating in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.67.

Iridium Communications Stock Performance

NASDAQ IRDM opened at $47.64 on Friday. The business has a 50 day moving average price of $47.93 and a 200 day moving average price of $34.79. The company has a market capitalization of $5.04 billion, a P/E ratio of 54.14, a PEG ratio of 2.87 and a beta of 0.87. Iridium Communications Inc has a 1-year low of $15.65 and a 1-year high of $57.18. 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 (NASDAQ:IRDM) last posted its earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). Iridium Communications had a net margin of 10.55% and a return on equity of 22.71%. The firm had revenue of $225.24 million during the quarter, compared to analyst estimates of $220.32 million. During the same period last year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that Iridium Communications Inc will post 1.02 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 15th. Iridium Communications’s payout ratio is currently 68.18%.

More Iridium Communications News

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

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.