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

Garmin Ltd. (NYSE:GRMN) insider Cheng-Wei Wang sold 9,941 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total value of $2,975,937.76. Following the transaction, the insider directly owned 29,506 shares of the company’s stock, valued at $8,832,916.16. This represents a 25.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Garmin Stock Up 0.6%

Shares of NYSE:GRMN opened at $294.87 on Friday. The company has a market cap of $56.87 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 3.28 and a beta of 0.87. The business has a 50 day moving average price of $263.21 and a 200 day moving average price of $247.31. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $314.28.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the business posted $2.17 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Analysts anticipate that Garmin Ltd. will post 10.08 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on GRMN. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Morgan Stanley boosted their price objective on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. UBS Group set a $370.00 price objective on shares of Garmin in a research report on Thursday, August 6th. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $310.17.

Institutional Trading of Garmin

Institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Garmin during the 4th quarter worth about $979,000. Plato Investment Management Ltd bought a new stake in Garmin in the second quarter valued at about $1,447,000. Commerzbank Aktiengesellschaft FI raised its position in Garmin by 282.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after purchasing an additional 4,814 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Garmin by 121.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after purchasing an additional 59,229 shares in the last quarter. Finally, Generali Asset Management SPA SGR lifted its stake in Garmin by 8,727.4% during the fourth quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after purchasing an additional 9,251 shares during the period. 81.60% of the stock is currently owned by institutional investors.

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.