BB&T Securities LLC raised its stake in Iridium Communications Inc (NASDAQ:IRDM) by 9.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 92,783 shares of the technology company’s stock after buying an additional 7,773 shares during the period. BB&T Securities LLC owned about 0.10% of Iridium Communications worth $1,025,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Capital One National Association boosted its stake in shares of Iridium Communications by 0.8% in the first quarter. Capital One National Association now owns 33,822 shares of the technology company’s stock valued at $326,000 after buying an additional 272 shares during the period. Vanguard Group Inc. boosted its stake in shares of Iridium Communications by 4.8% in the first quarter. Vanguard Group Inc. now owns 10,000,166 shares of the technology company’s stock valued at $96,501,000 after buying an additional 457,168 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Iridium Communications during the first quarter valued at approximately $443,000. Jane Street Group LLC acquired a new stake in shares of Iridium Communications during the first quarter valued at approximately $483,000. Finally, Eqis Capital Management Inc. boosted its stake in shares of Iridium Communications by 5.4% in the first quarter. Eqis Capital Management Inc. now owns 44,416 shares of the technology company’s stock valued at $429,000 after buying an additional 2,280 shares during the period.

Shares of Iridium Communications Inc (IRDM) opened at 10.30 on Tuesday. The company has a market capitalization of $1.01 billion, a PE ratio of 11.02 and a beta of 1.69. The stock has a 50 day moving average of $10.45 and a 200-day moving average of $10.07. Iridium Communications Inc has a one year low of $6.80 and a one year high of $11.57.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $111.60 million for the quarter, compared to the consensus estimate of $109.18 million. Iridium Communications had a net margin of 27.14% and a return on equity of 8.68%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. On average, equities analysts forecast that Iridium Communications Inc will post $0.80 earnings per share for the current fiscal year.

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IRDM has been the topic of several analyst reports. Zacks Investment Research cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Finally, TheStreet cut shares of Iridium Communications from a “b” rating to a “c+” rating in a report on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $12.00.

Iridium Communications Company Profile

Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.

Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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