Telemark Asset Management LLC Sells 20,000 Shares of Garmin Ltd. $GRMN

Telemark Asset Management LLC lowered its stake in Garmin Ltd. (NYSE:GRMN) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the scientific and technical instruments company’s stock after selling 20,000 shares during the period. Garmin accounts for approximately 1.9% of Telemark Asset Management LLC’s holdings, making the stock its 16th biggest holding. Telemark Asset Management LLC owned 0.05% of Garmin worth $20,872,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Quaker Wealth Management LLC boosted its stake in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares in the last quarter. Groupe la Francaise purchased a new stake in Garmin in the first quarter worth about $33,000. Zions Bancorporation National Association UT bought a new stake in Garmin during the 1st quarter valued at approximately $38,000. SOA Wealth Advisors LLC. grew its holdings in shares of Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after acquiring an additional 58 shares during the period. Finally, Harbour Investments Inc. raised its position in shares of Garmin by 31.8% in the 1st quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 64 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial boosted their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Morgan Stanley increased their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Finally, Barclays boosted their price objective on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Garmin presently has an average rating of “Hold” and an average price target of $239.50.

Garmin Stock Down 1.3%

Shares of NYSE GRMN opened at $187.18 on Friday. The firm has a market cap of $36.00 billion, a P/E ratio of 23.05, a PEG ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The company has a 50 day moving average of $231.22 and a 200 day moving average of $221.94.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting the consensus estimate of $1.99. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.Garmin’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, equities analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the sale, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.38% of the stock is currently owned by company insiders.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.