Nisa Investment Advisors LLC Has $500,000 Holdings in Iridium Communications Inc (NASDAQ:IRDM)

Nisa Investment Advisors LLC cut its holdings in Iridium Communications Inc (NASDAQ:IRDM) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,308 shares of the technology company’s stock after selling 815 shares during the period. Nisa Investment Advisors LLC’s holdings in Iridium Communications were worth $500,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of IRDM. Proficio Capital Partners LLC acquired a new position in shares of Iridium Communications in the fourth quarter valued at about $408,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Iridium Communications by 12.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,064 shares of the technology company’s stock valued at $901,000 after acquiring an additional 3,350 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Iridium Communications by 4.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the technology company’s stock valued at $553,000 after acquiring an additional 729 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Iridium Communications by 498.5% in the fourth quarter. Intech Investment Management LLC now owns 66,142 shares of the technology company’s stock valued at $1,919,000 after acquiring an additional 55,091 shares in the last quarter. Finally, Chesapeake Capital Corp IL acquired a new position in shares of Iridium Communications in the fourth quarter valued at about $204,000. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRDM has been the subject of several recent analyst reports. Oppenheimer initiated coverage on shares of Iridium Communications in a research report on Monday, May 5th. They set an “outperform” rating and a $34.00 price objective for the company. Wall Street Zen cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. BWS Financial cut their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Finally, William Blair raised shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.25.

Iridium Communications Stock Down 0.8%

IRDM stock opened at $31.19 on Thursday. The stock has a market capitalization of $3.37 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 1.07 and a beta of 0.79. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 3.43. Iridium Communications Inc has a 12 month low of $19.91 and a 12 month high of $35.85. The firm has a 50-day moving average price of $28.25 and a 200-day moving average price of $27.93.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $214.88 million during the quarter, compared to analysts’ expectations of $211.78 million. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, equities research analysts anticipate that Iridium Communications Inc will post 0.89 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.14 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.80%. Iridium Communications’s dividend payout ratio (DPR) is currently 52.83%.

Iridium Communications Company Profile

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.