Iridium Communications Inc (NASDAQ:IRDM – Get Free Report) Director Thomas Fitzpatrick sold 209,233 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $50.22, for a total transaction of $10,507,681.26. Following the completion of the transaction, the director owned 58,306 shares in the company, valued at approximately $2,928,127.32. The trade was a 78.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Thomas Fitzpatrick also recently made the following trade(s):
- On Tuesday, August 18th, Thomas Fitzpatrick sold 15,046 shares of Iridium Communications stock. The shares were sold at an average price of $49.20, for a total transaction of $740,263.20.
Iridium Communications Stock Down 0.5%
Shares of Iridium Communications stock opened at $48.45 on Friday. The company has a 50-day simple moving average of $48.13 and a two-hundred day simple moving average of $38.81. The stock has a market capitalization of $5.13 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 3.93 and a beta of 0.88. Iridium Communications Inc has a 52-week low of $15.65 and a 52-week high of $57.18. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.31 and a current ratio of 2.78.
Iridium Communications Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.60 annualized dividend and a yield of 1.2%. Iridium Communications’s dividend payout ratio is 68.18%.
Iridium Communications News Summary
Here are the key news stories impacting Iridium Communications this week:
- Positive Sentiment: Rocket Lab’s chief executive reportedly discussed an $8 billion Iridium deal, potentially renewing investor interest in strategic or merger-related activity involving Iridium Communications. However, the report does not establish that a transaction has been agreed to or is under consideration by Iridium. Rocket Lab CEO Says $8 Billion Iridium Deal
- Positive Sentiment: Iridium recently declared a quarterly dividend of $0.15 per share, equivalent to $0.60 annually and a yield of approximately 1.2%. The payout may support income-oriented demand, although the 68.18% payout ratio leaves less room for rapid dividend growth. Satellite Stocks Driving Industry Growth
- Neutral Sentiment: Analyst sentiment remains mixed, with the consensus rating at Hold. While some analysts have raised price targets, the reported average target of $38.67 is below recent trading levels, highlighting valuation concerns after IRDM’s strong run.
- Negative Sentiment: Insiders sold approximately 375,919 shares worth $18.9 million in transactions dated August 17–18. The sales included executives and directors, making the breadth of the activity a notable near-term confidence signal for investors. Iridium Insider Selling Report
- Negative Sentiment: Director Thomas Fitzpatrick made the largest sale, disposing of 209,233 shares for roughly $10.5 million and reducing his reported stake by 78.21%. Other sales included significant reductions by Suzanne McBride, Kathleen Morgan, Timothy Last and Timothy Kapalka.
- Negative Sentiment: SpaceX completed its 100th launch of 2026 and pushed Starlink beyond 11,000 satellites. The expanding constellation intensifies competition in satellite connectivity and could pressure investor perceptions of Iridium’s long-term growth prospects. Starlink Passes 11,000 Satellites
- Negative Sentiment: Iridium’s approximately 55-times earnings valuation and most recent quarterly EPS miss leave the stock vulnerable to profit-taking, even though quarterly revenue exceeded estimates and rose 3.8% year over year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of IRDM. Vanguard Group Inc. boosted its position in shares of Iridium Communications by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 10,157,227 shares of the technology company’s stock worth $176,533,000 after purchasing an additional 677,258 shares during the period. Silver Heights Capital Management Inc lifted its position in shares of Iridium Communications by 1.2% in the fourth quarter. Silver Heights Capital Management Inc now owns 5,251,133 shares of the technology company’s stock worth $91,265,000 after buying an additional 61,430 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Iridium Communications by 130.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396,642 shares of the technology company’s stock worth $7,044,000 after acquiring an additional 224,322 shares in the last quarter. Maxi Investments CY Ltd purchased a new stake in Iridium Communications during the fourth quarter valued at $7,369,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Iridium Communications during the 1st quarter valued at about $2,083,000. Hedge funds and other institutional investors own 84.36% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on IRDM shares. 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. William Blair cut Iridium Communications from an “outperform” rating to a “hold” rating in a research report on Monday, June 29th. New Street Research upgraded Iridium Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, July 22nd. Oppenheimer boosted their target price 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, Weiss Ratings restated a “hold (c)” rating on shares of Iridium Communications in a research note on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.67.
Iridium Communications Company Profile
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.
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