Great West Life Assurance Co. Can raised its position in shares of Iridium Communications Inc (NASDAQ:IRDM) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 972,540 shares of the technology company’s stock after buying an additional 3,831 shares during the period. Great West Life Assurance Co. Can’s holdings in Iridium Communications were worth $10,717,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Iridium Communications by 67,429.0% in the first quarter. BlackRock Inc. now owns 12,644,812 shares of the technology company’s stock worth $122,024,000 after buying an additional 12,626,087 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Iridium Communications by 837.8% in the first quarter. Gamco Investors INC. ET AL now owns 662,951 shares of the technology company’s stock worth $6,397,000 after buying an additional 592,258 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Iridium Communications by 22.5% in the first quarter. Pinnacle Associates Ltd. now owns 2,713,968 shares of the technology company’s stock worth $26,190,000 after buying an additional 498,165 shares during the last quarter. Vanguard Group Inc. boosted its stake in Iridium Communications by 4.8% in the first quarter. Vanguard Group Inc. now owns 10,000,166 shares of the technology company’s stock worth $96,501,000 after buying an additional 457,168 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in Iridium Communications during the first quarter worth $2,859,000.

Shares of Iridium Communications Inc (IRDM) opened at 9.95 on Thursday. Iridium Communications Inc has a 1-year low of $6.80 and a 1-year high of $11.58. The company has a 50-day moving average of $10.68 and a 200-day moving average of $10.05. The company has a market cap of $971.80 million, a PE ratio of 10.64 and a beta of 1.69.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Iridium Communications had a net margin of 22.20% and a return on equity of 6.00%. The business had revenue of $111.60 million during the quarter, compared to analysts’ expectations of $109.18 million. During the same quarter in the previous year, the company earned $0.22 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Iridium Communications Inc will post $0.80 EPS for the current year.

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IRDM has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. BidaskClub raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Iridium Communications currently has an average rating of “Buy” and a consensus 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.

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

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