LSV Asset Management Lowers Holdings in Iridium Communications Inc (IRDM)

LSV Asset Management decreased its holdings in shares of Iridium Communications Inc (NASDAQ:IRDM) by 3.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,368,460 shares of the technology company’s stock after selling 86,100 shares during the period. LSV Asset Management’s holdings in Iridium Communications were worth $27,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in Iridium Communications by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 540,390 shares of the technology company’s stock valued at $5,972,000 after buying an additional 15,715 shares during the period. Wells Fargo & Company MN boosted its position in Iridium Communications by 3.1% during the second quarter. Wells Fargo & Company MN now owns 219,185 shares of the technology company’s stock worth $2,422,000 after purchasing an additional 6,540 shares during the period. Teachers Advisors LLC boosted its position in Iridium Communications by 6.0% during the second quarter. Teachers Advisors LLC now owns 221,153 shares of the technology company’s stock worth $2,444,000 after purchasing an additional 12,518 shares during the period. TIAA CREF Investment Management LLC boosted its position in Iridium Communications by 0.7% during the second quarter. TIAA CREF Investment Management LLC now owns 334,225 shares of the technology company’s stock worth $3,693,000 after purchasing an additional 2,407 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Iridium Communications by 1.5% during the second quarter. Ameriprise Financial Inc. now owns 433,774 shares of the technology company’s stock worth $4,794,000 after purchasing an additional 6,497 shares during the period.

IRDM has been the subject of a number of research reports. TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a research report on Friday, October 27th. Wells Fargo & Co increased their target price on shares of Iridium Communications from $9.75 to $12.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. BidaskClub upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research lowered shares of Iridium Communications from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Iridium Communications has an average rating of “Buy” and an average price target of $13.00.

Shares of Iridium Communications Inc (NASDAQ:IRDM) opened at $12.05 on Thursday. Iridium Communications Inc has a fifty-two week low of $7.80 and a fifty-two week high of $13.00. The stock has a market cap of $1,175.65, a PE ratio of 13.04, a PEG ratio of 4.05 and a beta of 1.77. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67.

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About Iridium Communications

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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