Semanteon Capital Management LP Makes New Investment in Iridium Communications Inc. (NASDAQ:IRDM)

Semanteon Capital Management LP bought a new stake in Iridium Communications Inc. (NASDAQ:IRDM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,084 shares of the technology company’s stock, valued at approximately $333,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. acquired a new stake in shares of Iridium Communications in the 4th quarter valued at about $1,548,000. Hsbc Holdings PLC raised its position in Iridium Communications by 11.9% in the third quarter. Hsbc Holdings PLC now owns 54,578 shares of the technology company’s stock worth $2,498,000 after acquiring an additional 5,823 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Iridium Communications by 92.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 43,137 shares of the technology company’s stock valued at $1,962,000 after acquiring an additional 20,752 shares during the period. Pacer Advisors Inc. grew its position in Iridium Communications by 2,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 603,900 shares of the technology company’s stock worth $24,857,000 after buying an additional 583,896 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in Iridium Communications by 1,167.9% during the third quarter. GSA Capital Partners LLP now owns 51,310 shares of the technology company’s stock worth $2,334,000 after purchasing an additional 47,263 shares during the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Iridium Communications Stock Performance

IRDM opened at $31.37 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.52 and a debt-to-equity ratio of 1.86. The stock’s 50 day simple moving average is $27.28 and its 200-day simple moving average is $34.50. Iridium Communications Inc. has a 1 year low of $24.14 and a 1 year high of $65.69. The stock has a market cap of $3.81 billion, a PE ratio of 149.38 and a beta of 0.85.

Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Thursday, April 18th. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The company had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Sell-side analysts forecast that Iridium Communications Inc. will post 0.73 EPS for the current year.

Iridium Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.13 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.52 annualized dividend and a dividend yield of 1.66%. Iridium Communications’s dividend payout ratio (DPR) is currently 247.62%.

Analyst Ratings Changes

A number of research analysts have weighed in on IRDM shares. BWS Financial reissued a “neutral” rating and set a $30.00 price target on shares of Iridium Communications in a research note on Monday, April 22nd. Raymond James decreased their price target on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a research report on Friday, February 16th. Barclays boosted their price objective on Iridium Communications from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday. TheStreet raised Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. Finally, William Blair lowered shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.