CX Institutional Reduces Position in Iridium Communications Inc $IRDM

Posted by George Bondi on Aug 4th, 2026

CX Institutional lowered its position in Iridium Communications Inc (NASDAQ:IRDM – Free Report) by 37.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,098 shares of the technology company’s stock after selling 101,689 shares during the quarter. CX Institutional’s holdings in Iridium Communications were worth $9,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Parallel Advisors LLC raised its position in Iridium Communications by 789.1% in the 1st quarter. Parallel Advisors LLC now owns 7,042 shares of the technology company’s stock valued at $195,000 after purchasing an additional 6,250 shares during the last quarter. NewEdge Advisors LLC increased its stake in Iridium Communications by 11,143.3% in the first quarter. NewEdge Advisors LLC now owns 45,198 shares of the technology company’s stock valued at $1,254,000 after purchasing an additional 44,796 shares during the period. Glenmede Trust Co. NA purchased a new stake in shares of Iridium Communications in the first quarter valued at about $225,000. Essential Partners LLC boosted its stake in shares of Iridium Communications by 122.2% during the first quarter. Essential Partners LLC now owns 2,453 shares of the technology company’s stock worth $68,000 after buying an additional 1,349 shares during the period. Finally, Groupe la Francaise purchased a new position in shares of Iridium Communications during the first quarter worth about $567,000. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley increased their price objective on Iridium Communications from $26.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Barclays increased their price target on Iridium Communications from $25.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Oppenheimer upped their price objective on shares of Iridium Communications from $48.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Raymond James Financial restated a “market perform” rating on shares of Iridium Communications in a research note on Friday, April 24th. Finally, New Street Research raised shares of Iridium Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Iridium Communications presently has an average rating of “Hold” and an average price target of $38.67.

View Our Latest Stock Report on IRDM

Iridium Communications Price Performance

Shares of NASDAQ:IRDM opened at $48.32 on Tuesday. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 54.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.78 and a quick ratio of 2.31. The business’s 50 day simple moving average is $48.08 and its 200-day simple moving average is $36.15. Iridium Communications Inc has a 12 month low of $15.65 and a 12 month high of $57.18.

Iridium Communications (NASDAQ:IRDM – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The firm had revenue of $225.24 million during the quarter, compared to analysts’ expectations of $220.32 million. Iridium Communications had a net margin of 10.55% and a return on equity of 22.57%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. As a group, equities analysts forecast that Iridium Communications Inc will post 0.95 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.15 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. Iridium Communications’s payout ratio is currently 68.18%.

Iridium Communications Profile

(Free Report)

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.