Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Iridium Communications Inc $IRDM

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Iridium Communications Inc (NASDAQ:IRDM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 327,899 shares of the technology company’s stock, valued at approximately $17,985,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.31% of Iridium Communications as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Iridium Communications by 265.8% during the third quarter. Millennium Management LLC now owns 3,039,731 shares of the technology company’s stock worth $53,074,000 after purchasing an additional 2,208,857 shares during the period. Gotham Asset Management LLC raised its stake in shares of Iridium Communications by 651.1% during the 4th quarter. Gotham Asset Management LLC now owns 2,309,750 shares of the technology company’s stock valued at $40,143,000 after buying an additional 2,002,232 shares during the last quarter. Man Group plc raised its stake in shares of Iridium Communications by 226.3% during the 3rd quarter. Man Group plc now owns 2,012,077 shares of the technology company’s stock valued at $35,131,000 after buying an additional 1,395,485 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Iridium Communications in the 2nd quarter valued at about $62,751,000. Finally, Bank of America Corp DE boosted its stake in shares of Iridium Communications by 124.8% in the third quarter. Bank of America Corp DE now owns 1,581,142 shares of the technology company’s stock worth $27,607,000 after buying an additional 877,760 shares during the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Kathleen A. Morgan sold 33,192 shares of Iridium Communications stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $50.35, for a total value of $1,671,217.20. Following the sale, the insider owned 124,871 shares in the company, valued at $6,287,254.85. This trade represents a 21.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Suzanne E. Mcbride sold 85,454 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $50.28, for a total transaction of $4,296,627.12. Following the sale, the insider directly owned 282,017 shares of the company’s stock, valued at $14,179,814.76. This represents a 23.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 375,919 shares of company stock worth $18,878,997 in the last 90 days. 2.70% of the stock is owned by insiders.

Key Iridium Communications News

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 Stock Performance

NASDAQ IRDM opened at $48.45 on Friday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 3.93 and a beta of 0.88. The stock has a 50-day moving average of $48.13 and a 200 day 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 twelve month low of $15.65 and a twelve month high of $57.18.

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

Iridium Communications Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley lifted their price target on Iridium Communications from $26.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. Raymond James Financial reaffirmed a “market perform” rating on shares of Iridium Communications in a research note on Friday, April 24th. BWS Financial reaffirmed a “sell” rating and set a $16.00 target price on shares of Iridium Communications in a report on Monday, April 27th. New Street Research upgraded shares of Iridium Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 22nd. Finally, Oppenheimer increased their price target on shares of Iridium Communications from $48.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.67.

Iridium Communications 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.