Renaissance Technologies LLC Takes Position in Garmin Ltd. $GRMN

Renaissance Technologies LLC acquired a new stake in Garmin Ltd. (NYSE:GRMN) during the first quarter, Holdings Channel.com reports. The firm acquired 55,842 shares of the scientific and technical instruments company’s stock, valued at approximately $12,956,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Garmin by 6.2% in the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after buying an additional 345 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Garmin by 40.6% in the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after buying an additional 3,757 shares during the last quarter. Focus Partners Wealth boosted its holdings 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 worth $1,479,000 after buying an additional 2,304 shares during the period. Finally, Sivia Capital Partners LLC boosted its holdings 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 worth $347,000 after buying an additional 242 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Q2 beat and higher guidance: Garmin reported adjusted earnings of $2.81 per share, exceeding expectations of $2.30, while revenue increased 11.4% year over year to $2.02 billion. Growth was supported by strong demand for fitness products and advanced wearables. The company also raised its fiscal 2026 outlook, citing stronger margins and demand. Garmin Tops Q2 Earnings Estimates on Fitness Growth, Ups FY26 Guidance
• Positive Sentiment: Momentum and breakout: Coverage highlighted Garmin’s earnings-driven breakout and its ability to deliver growth despite a premium valuation. The stock reached a new 52-week high following the earnings beat, indicating continued investor confidence in its product portfolio and operating performance. Garmin Stock Breaks Out On Second-Quarter Beat, Raised Outlook
• Neutral Sentiment: Valuation debate: Analysts and financial commentary are weighing Garmin’s strong growth against a share price that may already reflect much of the improvement. This could make additional gains more dependent on continued earnings beats and guidance increases. Garmin Beats On Strong Demand, Is The Stock Now 12% Overvalued?
• Negative Sentiment: Insider selling: CEO Clifton Pemble, Vice President Joshua Maxfield and Director Sean Biddlecombe sold Garmin shares worth approximately $1.21 million, $335,000 and $289,000, respectively. Each retained a substantial position, but the cluster of sales can create a modest sentiment headwind.
• Negative Sentiment: Limited analyst upside: Morgan Stanley raised its price target to $289 from $249 but maintained an “equal weight” rating. The new target remains below the recent trading level, signaling that the firm views much of Garmin’s earnings optimism as already reflected in the stock.

Garmin Trading Down 0.8%

Shares of Garmin stock opened at $295.17 on Friday. The company’s fifty day simple moving average is $243.03 and its 200-day simple moving average is $237.09. The company has a market cap of $56.92 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 3.42 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $304.00.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating 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 firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the company earned $2.17 EPS. The business’s quarterly 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, research analysts forecast that Garmin Ltd. will post 9.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GRMN. Morgan Stanley raised their target price on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Tigress Financial lifted their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $289.20.

Insider Activity at Garmin

In other news, VP Joshua H. Maxfield sold 1,152 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $291.13, for a total transaction of $335,381.76. Following the transaction, the vice president owned 15,042 shares in the company, valued at approximately $4,379,177.46. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sean Biddlecombe sold 986 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $292.88, for a total transaction of $288,779.68. Following the transaction, the director directly owned 6,021 shares of the company’s stock, valued at $1,763,430.48. This represents a 14.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,810 shares of company stock worth $2,478,157. Insiders own 14.80% of the company’s stock.

Garmin 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.