Nisa Investment Advisors LLC Has $870,000 Stock Position in Iridium Communications Inc. (NASDAQ:IRDM)

Nisa Investment Advisors LLC lessened its stake in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 26.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,130 shares of the technology company’s stock after selling 7,670 shares during the period. Nisa Investment Advisors LLC’s holdings in Iridium Communications were worth $870,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Iridium Communications by 0.5% in the 1st quarter. BlackRock Inc. now owns 15,739,982 shares of the technology company’s stock valued at $634,635,000 after buying an additional 71,031 shares during the last quarter. Bamco Inc. NY lifted its stake in Iridium Communications by 0.4% in the third quarter. Bamco Inc. NY now owns 14,583,317 shares of the technology company’s stock valued at $663,395,000 after acquiring an additional 58,818 shares during the last quarter. Vanguard Group Inc. lifted its stake in Iridium Communications by 1.7% in the third quarter. Vanguard Group Inc. now owns 12,774,070 shares of the technology company’s stock valued at $566,786,000 after acquiring an additional 213,935 shares during the last quarter. Capital International Investors grew its position in shares of Iridium Communications by 0.4% in the 1st quarter. Capital International Investors now owns 7,722,754 shares of the technology company’s stock valued at $311,381,000 after acquiring an additional 26,978 shares during the period. Finally, State Street Corp increased its stake in shares of Iridium Communications by 2.2% during the 3rd quarter. State Street Corp now owns 5,120,966 shares of the technology company’s stock worth $227,217,000 after purchasing an additional 110,188 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on IRDM. Raymond James reduced their price target on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a report on Friday, February 16th. Barclays reduced their target price on Iridium Communications from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. TheStreet upgraded Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. William Blair cut shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 15th. Finally, BWS Financial lowered shares of Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

Iridium Communications Stock Down 0.1 %

IRDM stock opened at $24.65 on Tuesday. Iridium Communications Inc. has a fifty-two week low of $24.17 and a fifty-two week high of $68.34. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.06 and a quick ratio of 1.37. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 189.62 and a beta of 0.85. The business’s fifty day moving average price is $28.35 and its two-hundred day moving average price is $35.33.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.27. Iridium Communications had a net margin of 1.95% and a return on equity of 1.58%. The business had revenue of $194.74 million for the quarter, compared to analyst estimates of $192.13 million. During the same period last year, the firm earned ($0.01) earnings per share. Iridium Communications’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Iridium Communications Inc. will post 0.72 earnings per share for the current year.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s dividend payout ratio is currently 400.00%.

About Iridium Communications

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.