Schwab Charles Investment Management Inc. Has $6.02 Million Stake in Iridium Communications Inc (IRDM)

Schwab Charles Investment Management Inc. raised its holdings in shares of Iridium Communications Inc (NASDAQ:IRDM) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 584,531 shares of the technology company’s stock after acquiring an additional 44,141 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Iridium Communications were worth $6,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Flinton Capital Management LLC lifted its stake in shares of Iridium Communications by 80.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock valued at $101,000 after buying an additional 4,060 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Iridium Communications during the 2nd quarter valued at $102,000. PNC Financial Services Group Inc. lifted its stake in shares of Iridium Communications by 15.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock valued at $109,000 after buying an additional 1,303 shares in the last quarter. QS Investors LLC lifted its stake in shares of Iridium Communications by 23,091.5% during the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock valued at $120,000 after buying an additional 10,853 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Iridium Communications by 2.5% during the 2nd quarter. Amalgamated Bank now owns 11,437 shares of the technology company’s stock valued at $126,000 after buying an additional 284 shares in the last quarter.

Iridium Communications Inc (IRDM) opened at $12.05 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.67 and a current ratio of 2.78. Iridium Communications Inc has a one year low of $7.80 and a one year high of $12.90. The firm has a market cap of $1,180.55, a price-to-earnings ratio of 13.10, a P/E/G ratio of 4.07 and a beta of 1.75.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The company had revenue of $116.55 million for the quarter, compared to analysts’ expectations of $113.96 million. During the same quarter in the previous year, the company earned $0.26 EPS. Iridium Communications’s revenue for the quarter was up 3.3% on a year-over-year basis. research analysts expect that Iridium Communications Inc will post 0.83 earnings per share for the current year.

A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, September 27th. BidaskClub cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. Wells Fargo & Co lifted their target price on shares of Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Finally, TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.00.

In related news, Director A B. Krongard purchased 45,750 shares of Iridium Communications stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $10.89 per share, for a total transaction of $498,217.50. Following the acquisition, the director now owns 149,788 shares in the company, valued at approximately $1,631,191.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.40% of the company’s stock.

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Iridium Communications Company Profile

Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.

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

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