Key Points
- Garmin insider Cheng-Wei Wang sold 9,941 shares at an average price of $299.36, generating approximately $2.98 million. The sale reduced Wang’s direct ownership by 25.2% to 29,506 shares.
- Garmin reported quarterly EPS of $2.81, beating estimates of $2.30, while revenue reached $2.02 billion and increased 11.4% year over year.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $310.17; Garmin shares opened at $293.14 and have recently traded below their 12-month high of $314.28.
Garmin Ltd. (NYSE:GRMN - Get Free Report) insider Cheng-Wei Wang sold 9,941 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total value of $2,975,937.76. Following the completion of the sale, the insider directly owned 29,506 shares in the company, valued at $8,832,916.16. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Garmin Trading Down 0.9%
Shares of NYSE GRMN opened at $293.14 on Friday. The company has a market cap of $56.53 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 3.30 and a beta of 0.87. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $314.28. The stock has a 50-day moving average price of $262.07 and a two-hundred day moving average price of $246.98.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.51. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, sell-side analysts predict that Garmin Ltd. will post 10.08 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. UBS Group set a $370.00 price objective on Garmin in a research report on Thursday, August 6th. Wall Street Zen lowered Garmin from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Zacks Research raised Garmin from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Morgan Stanley raised their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $310.17.
Read Our Latest Analysis on Garmin
Institutional Trading of Garmin
Large investors have recently modified their holdings of the stock. Groupe la Francaise raised its holdings in shares of Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock valued at $29,000 after purchasing an additional 97 shares during the period. Reflection Asset Management bought a new stake in Garmin during the fourth quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new stake in Garmin in the 4th quarter valued at $34,000. Archer Investment Corp bought a new position in Garmin during the 1st quarter valued at $37,000. Finally, Torren Management LLC bought a new position in Garmin during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 81.60% of the company's stock.
About Garmin
(
Get Free Report)
Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin's products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.
Garmin's product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.
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