13 Best Telecom Stocks to Buy According to Hedge Funds

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8. Iridium Communications Inc. (NASDAQ:IRDM)

Number of Hedge Fund Holders: 38

Iridium Communications Inc. (NASDAQ:IRDM) provides satellite-based mobile voice and data solutions. It offers communications services to sectors like government, maritime, aviation, and IoT. Using its unique low-earth orbit satellite constellation, it delivers reliable connectivity in remote and challenging environments.

The company’s core telecom business centers on its satellite communication services. The company’s commercial IoT saw a 15% growth in Q4 2024, and commercial voice and data revenue increased by 3% in the same period. This is underpinned by the company’s reliable global L-band network, which is a key differentiator in the satellite communication market, particularly for safety and mission-critical applications.

Iridium Communications Inc. (NASDAQ:IRDM) is investing in new technologies and services to further expand its telecom offerings. This includes advancements in IoT with Iridium Certus IoT, which offers faster speeds and direct cloud connectivity. It’s also developing Iridium NTN Direct for direct-to-device communication. Additionally, it’s expanding its presence in the maritime sector with services like GMDSS (Global Maritime Distress and Safety System).

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