2 US mid-cap stocks that gained over 40% in a year

3 min read | January 11, 2023 01:00 AM PST | By Mridul Gogoi

2 US mid-cap stocks that gained over 40% in a year — Image source: © Oxtain | Megapixl.com

Iridium Communications Inc (NASDAQ:IRDM)

Iridium Communications is a provider of voice and data communications services. The company offers its products globally to government agencies including in the US. With a dividend yield of 0.877 per cent, Iridium paid a quarterly dividend of US$ 0.13 apiece.

Iridium registered third-quarter 2022 total revenue of US$ 184.06 million compared to US$ 162.15 million in Q3 2021.The company generated US$ 138.97 million as service revenue and US$ 45.1 million from equipment sales and engineering and support segment.

The company garnered total billable subscribers of 1,973,000 in Q3 2022, compared to 1,690,000 subscribers in the year-ago period.

The GAAP net income of the company in the third quarter of 2022 was US$ 2.14 million compared to a loss of US$ 2.08 million in the same quarter in 2021. In the reported quarter of 2022, the company bought back 1.8 million shares of its common stock, spending a total of US$ 80.2 million. The IRDM stock jumped 48.15 per cent YoY.

NOV Inc. (NYSE:NOV)

NOV Inc. supplies equipment and products for the oil and gas drilling industry. Some of its key products include downhole tools, drill pipes, and well casing. NOV has a global presence. The company has a dividend yield of 0.875 per cent and paid a quarterly dividend of US$ 0.05 per share.

NOV Inc. reported a revenue of US$ 1.89 billion in the third quarter of 2022, up 41 per cent year-over-year (YoY). The company's gross profit in Q3 2022 was US$ 368 million versus US$ 185 million in the year-ago quarter.

Meanwhile, the net income was reported at US$ 35 million compared to a loss of US$ 65 million in the same quarter a year earlier. The NOV stock gained 54.53 per cent YoY.

NOV Inc. Q3 revenue and net income (2022 v 2021) Source: ©Kalkine Media®; © Canva via Canva.com

Bottom line:

As an investor, you might diversify your portfolio and take the long-term route of investing when the market is volatile and bearish. It is generally a wait-and-watch period until the market comes back to normal. Conduct thorough research before entering the equities markets.

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