Garmin (NYSE:GRMN) Insider Cheng-Wei Wang Sells 9,941 Shares

Garmin Ltd. (NYSE:GRMN) insider Cheng-Wei Wang sold 9,941 shares of Garmin stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the transaction, the insider owned 29,506 shares in the company, valued at approximately $8,832,916.16. This trade represents a 25.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Garmin Trading Down 0.9%

Garmin stock traded down $2.53 during mid-day trading on Thursday, hitting $293.14. The stock had a trading volume of 886,645 shares, compared to its average volume of 911,155. The firm has a market capitalization of $56.53 billion, a P/E ratio of 30.22, a P/E/G ratio of 3.32 and a beta of 0.87. The firm’s 50 day moving average is $260.98 and its 200 day moving average is $246.33. Garmin Ltd. has a one year low of $186.67 and a one year high of $314.28.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the firm earned $2.17 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 10.08 earnings per share for the current year.

Institutional Investors Weigh In On Garmin

A number of hedge funds have recently made changes to their positions in GRMN. Groupe la Francaise increased its stake in Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 97 shares during the last quarter. Reflection Asset Management bought a new position in shares of Garmin during the 4th quarter valued at approximately $32,000. Atlas Capital Advisors Inc. bought a new position in shares of Garmin during the 4th quarter valued at approximately $34,000. Archer Investment Corp purchased a new position in shares of Garmin in the first quarter valued at $37,000. Finally, Torren Management LLC purchased a new position in shares of Garmin in the fourth quarter valued at $41,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on GRMN shares. Morgan Stanley lifted their target price on Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. UBS Group set a $370.00 price objective on shares of Garmin in a research report on Thursday, August 6th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Finally, Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.17.

Garmin Company Profile

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.