We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Iridium Partners With Nordic Semiconductor for Global IoT Connectivity
Read MoreHide Full Article
Iridium Communications Inc. (IRDM - Free Report) has joined forces with Nordic Semiconductor to incorporate its Non-Terrestrial Networks (NTN) Direct service into Nordic's LTE-M/Narrowband Internet of Things (NB-IoT) modules and chipsets. This initiative aims to realize the vision of universal connectivity for global and extensive IoT applications.
Recently, Iridium announced that the 3rd Generation Partnership Project (3GPP) has approved its request to enhance the capabilities of NB-IoT for NTN as part of the official Work Plan for 3GPP Release 19. Iridium NTN Direct was conceived from the company’s innovative Project Stardust, launched in January 2024. This initiative augments Iridium’s footprint in global connectivity through its latest service, Iridium NTN Direct, which is expected to be the world's first global 5G NB-IoT service. As a result of these enhancements, Iridium's satellite service will be accessible to any device equipped with a 3GPP Release 19 compliant chipset, with the completion of this release anticipated by the end of 2025.
Nordic Semiconductor is a leading provider of low-power wireless connectivity solutions, including cellular IoT technologies like LTE-M, NB-IoT, Wi-Fi, Bluetooth LE and Thread. The company plans to integrate Iridium's recognized NTN Direct service into its 3GPP Release 19 NTN roadmap. By facilitating connections for low-cost, 3GPP-standard NB-IoT modules and chipsets, like Nordic's nRF9151, Iridium is contributing to the realization of universal connectivity for a wide-ranging IoT ecosystem, highlighted Nordic.
Iridium Aims to Gain From Expanding Satellite IoT Market
The Satellite IoT market is projected to witness a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031, reaching an impressive market volume of $2.48 billion by 2031, according to Meticulous Research.
Commercial services remain the largest segment of Iridium’s business, accounting for 62.6% of second-quarter revenues, which totaled $126 million — a 6% increase from the previous year. This growth is driven by the increasing demand for IoT data, voice and data services across various sectors, including maritime, aviation, oil and gas, mining, recreation, forestry, construction, transportation and emergency services.
In the second quarter, commercial IoT revenues reached $41.6 million, representing a 20% year-over-year increase. This growth was supported by a 16% rise in subscribers, bringing the total to 1,837,000. The collaboration with Nordic Semiconductor is set to enhance connectivity in the IoT space, positioning Iridium to benefit from rising IoT demand and driving stock upward.
IRDM’s Zacks Rank & Stock Price Performance
IRDM currently carries a Zacks Rank #2 (Buy). Shares of the company have lost 30% in the past year against the sub-industry's growth of 2.2%.
Seagate Technology delivered an earnings surprise of 80.9%, on average, in three of the trailing four quarters. Strength in mass capacity solutions owing to stronger nearline cloud demand is aiding Seagate. Its launch of Mozaic 3+ hard drive platform positions it well to harness the power of megatrends like AI and machine learning, likely boosting demand over the long term.
Cirrus Logic’s performance is driven by increasing shipments in the smartphone market. Steady momentum in the laptop market and standout next-generation flagship smartphone design cushion the top line. CRUS delivered an earnings surprise of 56.6%, on average, in the trailing four quarters.
SS&C Technologies Holdings delivers investment and financial management software and related services focused exclusively on the financial services industry. It delivered an earnings surprise of 3.1%, on average, in the trailing four quarters. In the last reported quarter, SSNC pulled off an earnings surprise of 4.9%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Iridium Partners With Nordic Semiconductor for Global IoT Connectivity
Iridium Communications Inc. (IRDM - Free Report) has joined forces with Nordic Semiconductor to incorporate its Non-Terrestrial Networks (NTN) Direct service into Nordic's LTE-M/Narrowband Internet of Things (NB-IoT) modules and chipsets. This initiative aims to realize the vision of universal connectivity for global and extensive IoT applications.
Recently, Iridium announced that the 3rd Generation Partnership Project (3GPP) has approved its request to enhance the capabilities of NB-IoT for NTN as part of the official Work Plan for 3GPP Release 19. Iridium NTN Direct was conceived from the company’s innovative Project Stardust, launched in January 2024. This initiative augments Iridium’s footprint in global connectivity through its latest service, Iridium NTN Direct, which is expected to be the world's first global 5G NB-IoT service. As a result of these enhancements, Iridium's satellite service will be accessible to any device equipped with a 3GPP Release 19 compliant chipset, with the completion of this release anticipated by the end of 2025.
Nordic Semiconductor is a leading provider of low-power wireless connectivity solutions, including cellular IoT technologies like LTE-M, NB-IoT, Wi-Fi, Bluetooth LE and Thread. The company plans to integrate Iridium's recognized NTN Direct service into its 3GPP Release 19 NTN roadmap. By facilitating connections for low-cost, 3GPP-standard NB-IoT modules and chipsets, like Nordic's nRF9151, Iridium is contributing to the realization of universal connectivity for a wide-ranging IoT ecosystem, highlighted Nordic.
Iridium Aims to Gain From Expanding Satellite IoT Market
The Satellite IoT market is projected to witness a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031, reaching an impressive market volume of $2.48 billion by 2031, according to Meticulous Research.
Commercial services remain the largest segment of Iridium’s business, accounting for 62.6% of second-quarter revenues, which totaled $126 million — a 6% increase from the previous year. This growth is driven by the increasing demand for IoT data, voice and data services across various sectors, including maritime, aviation, oil and gas, mining, recreation, forestry, construction, transportation and emergency services.
Iridium Communications Inc Price and Consensus
Iridium Communications Inc price-consensus-chart | Iridium Communications Inc Quote
In the second quarter, commercial IoT revenues reached $41.6 million, representing a 20% year-over-year increase. This growth was supported by a 16% rise in subscribers, bringing the total to 1,837,000. The collaboration with Nordic Semiconductor is set to enhance connectivity in the IoT space, positioning Iridium to benefit from rising IoT demand and driving stock upward.
IRDM’s Zacks Rank & Stock Price Performance
IRDM currently carries a Zacks Rank #2 (Buy). Shares of the company have lost 30% in the past year against the sub-industry's growth of 2.2%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader technology space are Seagate Technology Holdings plc (STX - Free Report) , Cirrus Logic, Inc. (CRUS - Free Report) and SS&C Technologies Holdings, Inc. (SSNC - Free Report) . STX & CRUS presently sport a Zacks Rank #1 (Strong Buy), whereas SSNC carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Seagate Technology delivered an earnings surprise of 80.9%, on average, in three of the trailing four quarters. Strength in mass capacity solutions owing to stronger nearline cloud demand is aiding Seagate. Its launch of Mozaic 3+ hard drive platform positions it well to harness the power of megatrends like AI and machine learning, likely boosting demand over the long term.
Cirrus Logic’s performance is driven by increasing shipments in the smartphone market. Steady momentum in the laptop market and standout next-generation flagship smartphone design cushion the top line. CRUS delivered an earnings surprise of 56.6%, on average, in the trailing four quarters.
SS&C Technologies Holdings delivers investment and financial management software and related services focused exclusively on the financial services industry. It delivered an earnings surprise of 3.1%, on average, in the trailing four quarters. In the last reported quarter, SSNC pulled off an earnings surprise of 4.9%.