Garmin (NYSE:GRMN) Sets New 52-Week High – Should You Buy?

Garmin Ltd. (NYSE:GRMN) shares hit a new 52-week high during trading on Monday . The stock traded as high as $312.70 and last traded at $310.2850, with a volume of 900150 shares traded. The stock had previously closed at $310.89.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GRMN shares. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Morgan Stanley increased their target price on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Finally, Barclays raised their target price on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $310.17.

Garmin Trading Down 0.4%

The firm’s fifty day moving average is $249.83 and its 200-day moving average is $240.56. The stock has a market capitalization of $59.69 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm posted $2.17 earnings per share. Garmin’s revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities analysts predict that Garmin Ltd. will post 10.1 EPS for the current year.

Insider Activity

In related news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,810 shares of company stock worth $2,478,157 in the last three months. 14.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garmin

A number of institutional investors have recently modified their holdings of GRMN. State Street Corp lifted its stake in Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after acquiring an additional 126,677 shares in the last quarter. Norges Bank acquired a new position in Garmin in the 4th quarter valued at about $395,234,000. Northern Trust Corp increased its stake in Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after purchasing an additional 63,283 shares during the period. Dimensional Fund Advisors LP increased its stake in Garmin by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock worth $378,540,000 after purchasing an additional 40,474 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after purchasing an additional 5,213 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

About Garmin

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.