Swiss National Bank lifted its holdings in Iridium Communications Inc (NASDAQ:IRDM) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,400 shares of the technology company’s stock after purchasing an additional 7,000 shares during the period. Swiss National Bank owned about 0.14% of Iridium Communications worth $1,669,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Iridium Communications in the fourth quarter worth about $336,000. Alps Advisors Inc. acquired a new position in shares of Iridium Communications in the fourth quarter worth about $257,000. Aperio Group LLC boosted its holdings in shares of Iridium Communications by 12.9% in the fourth quarter. Aperio Group LLC now owns 54,603 shares of the technology company’s stock worth $644,000 after buying an additional 6,231 shares during the period. WealthTrust Axiom LLC boosted its holdings in shares of Iridium Communications by 5.7% in the fourth quarter. WealthTrust Axiom LLC now owns 425,304 shares of the technology company’s stock worth $5,018,000 after buying an additional 23,064 shares during the period. Finally, Chicago Equity Partners LLC boosted its holdings in shares of Iridium Communications by 228.7% in the fourth quarter. Chicago Equity Partners LLC now owns 117,690 shares of the technology company’s stock worth $1,389,000 after buying an additional 81,885 shares during the period. 99.98% of the stock is currently owned by institutional investors.
Iridium Communications Inc (NASDAQ IRDM) opened at $11.10 on Tuesday. Iridium Communications Inc has a fifty-two week low of $8.40 and a fifty-two week high of $13.25. The company has a market cap of $1,139.25, a PE ratio of 6.07, a price-to-earnings-growth ratio of 32.00 and a beta of 1.79. The company has a quick ratio of 1.83, a current ratio of 1.92 and a debt-to-equity ratio of 1.01.
Several brokerages have commented on IRDM. Zacks Investment Research upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, December 26th. ValuEngine cut shares of Iridium Communications from a “strong-buy” rating to a “buy” rating in a report on Friday, February 23rd. Finally, BidaskClub cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.00.
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Iridium Communications 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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