Iridium Communications Inc (NASDAQ:IRDM) Director A B. Krongard purchased 45,750 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $10.89 per share, for a total transaction of $498,217.50. Following the completion of the transaction, the director now owns 149,788 shares in the company, valued at $1,631,191.32. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Iridium Communications Inc (NASDAQ:IRDM) traded up $0.05 during mid-day trading on Monday, reaching $10.95. The company had a trading volume of 477,800 shares, compared to its average volume of 924,959. The company has a market cap of $1,072.78, a PE ratio of 11.90, a PEG ratio of 2.63 and a beta of 1.78. Iridium Communications Inc has a fifty-two week low of $7.80 and a fifty-two week high of $12.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $116.55 million for the quarter, compared to analysts’ expectations of $113.96 million. Iridium Communications had a return on equity of 8.31% and a net margin of 26.38%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. analysts predict that Iridium Communications Inc will post 0.83 EPS for the current year.

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A number of analysts have recently commented on IRDM shares. ValuEngine raised Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Wells Fargo & Company upped their price objective on Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. Drexel Hamilton reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Iridium Communications in a research report on Thursday, August 31st. Zacks Investment Research raised Iridium Communications from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday, July 31st. Finally, TheStreet raised Iridium Communications from a “c+” rating to a “b” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $12.33.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank raised its stake in Iridium Communications by 2.5% during the 2nd quarter. Amalgamated Bank now owns 11,437 shares of the technology company’s stock valued at $126,000 after buying an additional 284 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Iridium Communications by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,300 shares of the technology company’s stock valued at $368,000 after buying an additional 500 shares during the last quarter. Arizona State Retirement System raised its stake in Iridium Communications by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 42,634 shares of the technology company’s stock valued at $471,000 after buying an additional 700 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Iridium Communications by 15.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock valued at $109,000 after buying an additional 1,303 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Iridium Communications by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 164,291 shares of the technology company’s stock valued at $1,815,000 after buying an additional 1,320 shares during the last quarter.

About Iridium Communications

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.

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