Principal Financial Group Inc. Purchases 10,702 Shares of Iridium Communications Inc $IRDM

Principal Financial Group Inc. lifted its holdings in Iridium Communications Inc (NASDAQ:IRDM) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 508,290 shares of the technology company’s stock after purchasing an additional 10,702 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Iridium Communications worth $14,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in 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 last quarter. Silver Heights Capital Management Inc increased its stake 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 purchasing an additional 61,430 shares in the last quarter. State Street Corp raised its stake in Iridium Communications by 18.0% during the 4th quarter. State Street Corp now owns 4,761,749 shares of the technology company’s stock valued at $82,759,000 after purchasing an additional 725,856 shares during the period. Millennium Management LLC increased its holdings in Iridium Communications by 265.8% in the 3rd quarter. Millennium Management LLC now owns 3,039,731 shares of the technology company’s stock valued at $53,074,000 after acquiring an additional 2,208,857 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Iridium Communications by 21.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,323,170 shares of the technology company’s stock worth $40,377,000 after acquiring an additional 408,903 shares during the last quarter. Institutional investors own 84.36% of the company’s stock.

Iridium Communications News Summary

Here are the key news stories impacting Iridium Communications this week:

• Positive Sentiment: New Street Research upgraded Iridium Communications (IRDM) from “neutral” to “buy,” signaling improved confidence in the stock’s outlook. Tickerreport.com
• Positive Sentiment: Iridium’s Q2 revenue came in ahead of estimates, helped by new satellite products and growth tied to Aireon and Rocket Lab-related strategic initiatives, which may support the company’s longer-term story. Zacks article
• Neutral Sentiment: The company announced second-quarter 2026 results and said the pending acquisition by Rocket Lab is expected to close in mid-2027, keeping investors focused on strategic execution and deal completion. PR Newswire release
• Negative Sentiment: Q2 earnings missed analyst expectations, with EPS well below forecasts, which may limit upside despite the revenue beat. Zacks article

Iridium Communications Stock Performance

Shares of Iridium Communications stock opened at $47.64 on Friday. The business’s 50 day moving average price is $47.93 and its 200 day moving average price is $34.79. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 54.14, a PEG ratio of 2.87 and a beta of 0.87. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.21 and a current ratio of 2.85. Iridium Communications Inc has a one year low of $15.65 and a one year high of $57.18.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Wednesday, July 22nd. The technology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). The company had revenue of $225.24 million during the quarter, compared to analyst estimates of $220.32 million. Iridium Communications had a net margin of 10.55% and a return on equity of 22.71%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. On average, research analysts predict that Iridium Communications Inc will post 1.02 EPS for the current year.

Iridium Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 15th. Iridium Communications’s payout ratio is 68.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IRDM shares. Oppenheimer lifted their target price on Iridium Communications from $48.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Barclays boosted their price objective on shares of Iridium Communications from $25.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. New Street Research raised shares of Iridium Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday. BWS Financial reaffirmed a “sell” rating and set a $16.00 target price on shares of Iridium Communications in a research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iridium Communications in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Iridium Communications presently has a consensus rating of “Hold” and an average target price of $38.67.

About Iridium Communications

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.