5 Top Satellite Stocks To Watch Ahead Of September 2021
As we begin another trading week, satellite stocks appear to be in focus in the stock market now. For the most part, this would be thanks to some major news regarding consumer tech company Apple (NASDAQ: AAPL). Namely, reports suggest that Apple is currently working with satellite service provider Globalstar (NYSE: GSAT) to bolster its upcoming iPhone 13 lineup. According to a report from AppleInsider, the iPhone 13 will reportedly boast satellite communications capabilities. As a result, GSAT stock now trades at $2.35 as of Monday’s closing bell after gaining by over 64% during Monday’s trading session.
Now, while investors and consumers alike await the arrival of the iPhone 13, one thing is apparent. In theory, the use of satellite tech in today’s smartphones would provide a new dimension of communication for the general public. Simply put, satellite-enabled phones would be able to make calls and send messages even when not within 4G/5G coverage. Moreover, even mobile carriers like Verizon (NYSE: VZ) could also stand to gain from such trends. With all the attention on this sector of the tech world now, I could see investors keen to jump on the top satellite stocks. Should you be one of them, here are five to note in the stock market today.
Top Satellite Stocks To Buy [Or Sell] Before September 2021
- Iridium Communications (NASDAQ: IRDM)
- Boeing Company (NYSE: BA)
- Maxar Technologies Inc. (NYSE: MAXR)
- Northrop Grumman Corporation (NYSE: NOC)
- Gilat Satellite Networks (NASDAQ: GILT)
Iridium Communications Inc.
First, on this list, we have Iridium Communications. The company essentially operates its Iridium satellite constellation to connect people and devices all over the world. Together with its ecosystem of partner companies, the company delivers a rich portfolio of reliable communications services for millions all over the world.
In early August, the company announced that Japan’s Ministry of Internal Affairs and Communications has approved regulatory amendments necessary to allow for Japanese adoption of Iridium Certus broadband and other aeronautical services for aviation. Iridium Certus is the world’s most advanced L-band broadband solution, offering small-form-factor and cost-effective terminals.
In July, the company also reported its second-quarter financial. Most notably, it posted a record subscriber growth at over 1.6 million, growing by 19% year-over-year. Total revenue for the quarter was $149.9 million. With that being said, will you consider adding IRDM stock to your portfolio?
The Boeing Company.
Next on this list, we have Boeing, a multinational company that designs and sells satellites, airplanes, and other telecommunications equipment. Its customers span over 150 countries and it serves a wide range of industries that include launch systems, communications systems, military and commercial aircrafts among others. BA stock currently trades at $218.45 as of 11:04 a.m. ET and is up by over 25% in the past year.
In late July, the company reported its second-quarter financials. Diving in, Boeing posted a revenue of $17 billion for the quarter. It also reported a GAAP earnings per share of $1.00 or a net earnings of $567 million during this second quarter. The company also says that its commercial airplanes backlog grew to $285 billion and it has added 180 net orders.
Furthermore, it continued to make progress on the global safe return to service of its 737 MAX. Since the FAA’s approval for the 737 MAX to return to operations in November 2020, the company has delivered more than 130 737 MAX aircraft and airlines have returned more than 190 previously grounded airplanes to service. All things considered, do you think BA stock is worth buying right now?
Maxar Technologies Inc.
Maxar Technologies is a space tech company with headquarters in Colorado. In essence, it specializes in Earth observation, radar, and on-orbit servicing satellites and satellite products. IT offers disruptive value to government and commercial customers to help them monitor and navigate through the ever-changing planet and to deliver global broadband communications.
Last week, the company was awarded a contract to build a geostationary communications satellite for longtime customer SiriusXM, following the SXM-9 satellite order that was announced earlier in the month.
Maxar has been building satellites for SiriusXM for more than two decades, including the first-generation Sirius satellites launched in 2000, the second-generation Sirius satellites launched in 2009 and 2013, and the company’s third-generation satellites, the last one of which was launched earlier this year. Given this exciting piece of news, is MAXR stock a top satellite stock to consider buying today?
Northrop Grumman Corporation
Following that, we will be taking a look at the Northrop Grumman Corporation. To begin with, Northrop is an aerospace and defense company. In fact, by the company’s calculations, it is one of the largest weapon manufacturers and military tech providers globally.
Among its core offerings, Northrop also offers national security space solutions in the form of satellites and related services as well. In an increasingly tech-focused world, the company’s services would be more relevant than ever.
Would all this make it worth investing in now? Well, if anything, we could take a look at the company’s financials to get a clearer understanding of this. Just last month, Northrop posted solid figures in its second-quarter fiscal. The company raked in a total revenue of $9.15 billion, marking a sizable 3% year-over-year increase. Subsequently, Northrop also declared a quarterly dividend of $1.57 per share. All in all, would you consider NOC stock a top buy?
Gilat Satellite Networks Ltd.
Topping off our list today is Gilat Satellite Networks. In brief, the Israel-based company is a leading provider of satellite-based broadband communications worldwide. The company’s portfolio consists of a cloud-based network platform, high-speed modems, and high-performance antennas among other satellite-related solutions. According to Gilat, its tech plays crucial roles in broadband access, in-flight connectivity, defense, and cellular backhaul applications.
By and large, Gilat seems to be gaining momentum on the financial front now. In its latest quarter fiscal posted earlier this month, the company reported strong growth. Namely, Gilat saw its total revenue jump by over 48% year-over-year.
CEO Adi Sfadia had this to say, “Given the improving momentum and strong backlog, we expect to continue with our high revenue and profitability growth through the second half of 2021.” With dependence on satellite tech seemingly on the rise, will you be keeping track of GILT stock now?