Thomas Fitzpatrick Sells 15,046 Shares of Iridium Communications (NASDAQ:IRDM) Stock

Iridium Communications Inc (NASDAQ:IRDM) Director Thomas Fitzpatrick sold 15,046 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $49.20, for a total transaction of $740,263.20. Following the completion of the transaction, the director owned 43,260 shares in the company, valued at approximately $2,128,392. This represents a 25.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Thomas Fitzpatrick also recently made the following trade(s):

• On Monday, August 17th, Thomas Fitzpatrick sold 209,233 shares of Iridium Communications stock. The shares were sold at an average price of $50.22, for a total transaction of $10,507,681.26.

Iridium Communications Price Performance

Iridium Communications stock opened at $48.45 on Friday. The stock has a market cap of $5.13 billion, a P/E ratio of 55.06, a price-to-earnings-growth ratio of 3.93 and a beta of 0.88. The company has a fifty day simple moving average of $48.13 and a 200-day simple moving average of $38.81. The company has a current ratio of 2.78, a quick ratio of 2.31 and a debt-to-equity ratio of 3.70. Iridium Communications Inc has a 12-month low of $15.65 and a 12-month high of $57.18.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). Iridium Communications had a return on equity of 22.57% and a net margin of 10.55%.The business had revenue of $225.24 million for the quarter, compared to analysts’ expectations of $220.32 million. During the same period last year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Iridium Communications Inc will post 0.95 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. Iridium Communications’s dividend payout ratio is presently 68.18%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IRDM. Royal Bank of Canada lifted its holdings in shares of Iridium Communications by 33.0% during the first quarter. Royal Bank of Canada now owns 48,325 shares of the technology company’s stock worth $1,320,000 after purchasing an additional 11,985 shares during the period. Amundi increased its stake in Iridium Communications by 1,243.0% in the 1st quarter. Amundi now owns 40,479 shares of the technology company’s stock valued at $1,035,000 after buying an additional 37,465 shares during the period. Goldman Sachs Group Inc. increased its stake in Iridium Communications by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 232,231 shares of the technology company’s stock valued at $6,345,000 after buying an additional 33,191 shares during the period. United Services Automobile Association purchased a new position in Iridium Communications during the 1st quarter worth $218,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Iridium Communications by 16.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 539,566 shares of the technology company’s stock worth $14,741,000 after buying an additional 75,060 shares during the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IRDM has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Iridium Communications in a research note on Friday, July 10th. William Blair cut Iridium Communications from an “outperform” rating to a “hold” rating in a research report on Monday, June 29th. BWS Financial restated a “sell” rating and set a $16.00 price target on shares of Iridium Communications in a research note on Monday, April 27th. New Street Research raised Iridium Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 22nd. Finally, Oppenheimer boosted their price objective on Iridium Communications from $48.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.67.

Iridium Communications News Summary

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

• Positive Sentiment: Rocket Lab’s chief executive reportedly discussed an $8 billion Iridium deal, potentially renewing investor interest in strategic or merger-related activity involving Iridium Communications. However, the report does not establish that a transaction has been agreed to or is under consideration by Iridium. Rocket Lab CEO Says $8 Billion Iridium Deal
• Positive Sentiment: Iridium recently declared a quarterly dividend of $0.15 per share, equivalent to $0.60 annually and a yield of approximately 1.2%. The payout may support income-oriented demand, although the 68.18% payout ratio leaves less room for rapid dividend growth. Satellite Stocks Driving Industry Growth
• Neutral Sentiment: Analyst sentiment remains mixed, with the consensus rating at Hold. While some analysts have raised price targets, the reported average target of $38.67 is below recent trading levels, highlighting valuation concerns after IRDM’s strong run.
• Negative Sentiment: Insiders sold approximately 375,919 shares worth $18.9 million in transactions dated August 17–18. The sales included executives and directors, making the breadth of the activity a notable near-term confidence signal for investors. Iridium Insider Selling Report
• Negative Sentiment: Director Thomas Fitzpatrick made the largest sale, disposing of 209,233 shares for roughly $10.5 million and reducing his reported stake by 78.21%. Other sales included significant reductions by Suzanne McBride, Kathleen Morgan, Timothy Last and Timothy Kapalka.
• Negative Sentiment: SpaceX completed its 100th launch of 2026 and pushed Starlink beyond 11,000 satellites. The expanding constellation intensifies competition in satellite connectivity and could pressure investor perceptions of Iridium’s long-term growth prospects. Starlink Passes 11,000 Satellites
• Negative Sentiment: Iridium’s approximately 55-times earnings valuation and most recent quarterly EPS miss leave the stock vulnerable to profit-taking, even though quarterly revenue exceeded estimates and rose 3.8% year over year.

Iridium Communications Company Profile

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.