Y Intercept Hong Kong Ltd Raises Stake in Garmin Ltd. $GRMN

Y Intercept Hong Kong Ltd boosted its stake in Garmin Ltd. (NYSE:GRMN) by 36.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,878 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,481 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Garmin were worth $3,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after acquiring an additional 463 shares during the period. NewEdge Advisors LLC lifted its stake in Garmin by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after purchasing an additional 345 shares in the last quarter. Woodline Partners LP boosted its holdings in Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after purchasing an additional 3,757 shares during the period. Focus Partners Wealth grew its position in shares of Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after purchasing an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its position in shares of Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Transactions at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction dated Tuesday, June 9th. The stock was 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. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total value 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 $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 19.54% of the company’s stock.

Garmin Trading Up 0.5%

Shares of NYSE:GRMN traded up $1.19 during trading on Tuesday, reaching $246.41. The company had a trading volume of 122,247 shares, compared to its average volume of 893,099. The company has a fifty day moving average of $238.63 and a two-hundred day moving average of $231.04. The stock has a market capitalization of $47.52 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.84 and a beta of 0.90. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $1.61 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GRMN. Tigress Financial increased their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Barclays lowered their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Garmin has a consensus rating of “Moderate Buy” and an average price target of $269.40.

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.