Iridium Communications Inc.
In the published model solve dated 2026-Q2, anchored at $47.00, Iridium Communications Inc. (IRDM) is priced for +13.8% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Iridium operates the only satellite network providing voice and data anywhere on Earth through 66 low-orbit satellites, serving commercial, government, and a fast-growing Internet-of-Things subscriber base. • The clearest risk is competition from new space entrants: the 10-K names ⟦"new and proposed LEO constellations and satellite direct-to-device (D2D) services"⟧ as threats, with SpaceX explicitly cited as moving into the company's territory. • Watch the product wave and deleveraging: manage
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365 institutional managers reported holding IRDM in 13F filings for the quarter ended 2026-03-31. Together they hold about 83% of the company; the top 10 hold 48%. 95 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 9.5M shares were sold short as of the 2026-06-15 count, about 9% of shares outstanding (3.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
IRDM has cut its share count 20.7% over the past five years, spending $1.14B on repurchases. It pays a dividend, and has for 3 years running, raised 2 years straight; the current rate is $0.13 a share annually. Cash returned over the past three years: $176.21M in dividends and $721.45M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at IRDM over the trailing three years: 2023: 1 buy totaling $1.04M; 2025: 2 buys totaling $871k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
IRDM's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-26 | -15.0% | -10.5% |
| 2023-10-20 | -12.1% | +5.7% |
| 2024-02-16 | -14.0% | -9.1% |
| 2024-04-19 | +10.9% | -8.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
IRDM's latest 8-K filings: 2026-08-10 (items 5.03, 7.01, 9.01); 2026-07-22 (items 2.02, 9.01); 2026-07-07 (items 1.01, 2.03, 5.02, 7.01, 9.01); 2026-06-29 (items 1.01, 7.01, 9.01); 2026-05-20 (items 5.02, 5.07, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.