Semanteon Capital Management LP Makes New $333,000 Investment in Iridium Communications Inc. (NASDAQ:IRDM)

Semanteon Capital Management LP purchased a new stake in shares of Iridium Communications Inc. (NASDAQ:IRDM) in the 4th quarter, Holdings Channel.com reports. The fund purchased 8,084 shares of the technology company’s stock, valued at approximately $333,000.

A number of other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Iridium Communications in the 4th quarter valued at $41,000. Covestor Ltd grew its position in shares of Iridium Communications by 83.2% during the 3rd quarter. Covestor Ltd now owns 1,006 shares of the technology company’s stock worth $46,000 after buying an additional 457 shares during the period. ORG Partners LLC increased its stake in shares of Iridium Communications by 20.6% in the 4th quarter. ORG Partners LLC now owns 3,216 shares of the technology company’s stock valued at $132,000 after acquiring an additional 550 shares in the last quarter. Malaga Cove Capital LLC acquired a new position in shares of Iridium Communications during the 3rd quarter valued at $234,000. Finally, Aigen Investment Management LP bought a new position in Iridium Communications during the third quarter worth $254,000. Institutional investors and hedge funds own 84.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IRDM. TheStreet raised shares of Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. Barclays upped their price target on Iridium Communications from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday. BWS Financial reissued a “neutral” rating and issued a $30.00 price objective on shares of Iridium Communications in a research note on Monday, April 22nd. William Blair lowered shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Finally, Raymond James lowered their price objective on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.75.

Iridium Communications Trading Up 5.7 %

Shares of Iridium Communications stock opened at $31.37 on Friday. The firm has a market cap of $3.81 billion, a PE ratio of 149.38 and a beta of 0.85. Iridium Communications Inc. has a 1 year low of $24.14 and a 1 year high of $65.69. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52. The stock has a fifty day moving average price of $27.28 and a 200-day moving average price of $34.50.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The business had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. During the same quarter last year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that Iridium Communications Inc. will post 0.73 EPS for the current year.

Iridium Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s dividend payout ratio (DPR) is 247.62%.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.