Legal & General Group Plc Acquires Shares of 380,075 Iridium Communications Inc $IRDM

Posted by Stanley Muller on Aug 30th, 2026

Legal & General Group Plc acquired a new stake in shares of Iridium Communications Inc (NASDAQ:IRDM – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 380,075 shares of the technology company’s stock, valued at approximately $20,847,000. Legal & General Group Plc owned about 0.36% of Iridium Communications at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in Iridium Communications during the 2nd quarter valued at approximately $63,000. Root Financial Partners LLC lifted its holdings in Iridium Communications by 1,750.0% in the 1st quarter. Root Financial Partners LLC now owns 1,332 shares of the technology company’s stock worth $37,000 after buying an additional 1,260 shares during the period. Quadrant Capital Group LLC grew its position in shares of Iridium Communications by 107.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock worth $25,000 after buying an additional 741 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Iridium Communications by 392.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after buying an additional 1,202 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Iridium Communications during the fourth quarter valued at approximately $27,000. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Thomas Fitzpatrick sold 209,233 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $50.22, for a total value of $10,507,681.26. Following the transaction, the director owned 58,306 shares in the company, valued at $2,928,127.32. The trade was a 78.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Timothy Kapalka sold 13,473 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $50.51, for a total transaction of $680,521.23. Following the sale, the chief accounting officer directly owned 35,731 shares in the company, valued at $1,804,772.81. This trade represents a 27.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 375,919 shares of company stock valued at $18,878,997. 2.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on IRDM. Weiss Ratings reissued a “hold (c)” rating on shares of Iridium Communications in a research report on Friday, July 10th. Morgan Stanley raised their target price on shares of Iridium Communications from $26.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. New Street Research upgraded shares of Iridium Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 22nd. William Blair downgraded shares of Iridium Communications from an “outperform” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Oppenheimer raised their price objective on shares of Iridium Communications from $48.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.67.

Check Out Our Latest Analysis on IRDM

Iridium Communications Price Performance

IRDM stock opened at $46.60 on Friday. The firm has a 50 day moving average price of $48.41 and a 200-day moving average price of $39.85. Iridium Communications Inc has a 52-week low of $15.65 and a 52-week high of $57.18. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 52.96, a PEG ratio of 3.76 and a beta of 0.88. 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 (NASDAQ:IRDM – Get Free Report) last posted its quarterly earnings results 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). Iridium Communications had a return on equity of 22.57% and a net margin of 10.55%.The company had revenue of $225.24 million during the quarter, compared to analysts’ expectations of $220.32 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that Iridium Communications Inc will post 0.95 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Iridium Communications’s dividend 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.