32,100 Shares in Garmin Ltd. $GRMN Purchased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the second quarter, Holdings Channel reports. The firm bought 32,100 shares of the scientific and technical instruments company’s stock, valued at approximately $7,625,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Garmin in the fourth quarter valued at approximately $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Garmin during the 4th quarter worth approximately $214,382,000. Man Group plc increased its stake in Garmin by 232.0% during the 4th quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company’s stock worth $164,793,000 after buying an additional 567,711 shares during the period. Bank of America Corp DE lifted its holdings in Garmin by 73.8% during the 1st quarter. Bank of America Corp DE now owns 1,295,199 shares of the scientific and technical instruments company’s stock worth $300,499,000 after buying an additional 549,954 shares in the last quarter. Finally, Amundi boosted its position in Garmin by 82.5% in the 1st quarter. Amundi now owns 1,017,314 shares of the scientific and technical instruments company’s stock valued at $236,027,000 after buying an additional 459,980 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Down 1.2%

Shares of NYSE:GRMN opened at $291.24 on Tuesday. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $314.28. The company’s 50 day moving average is $264.26 and its two-hundred day moving average is $248.23. The company has a market cap of $56.17 billion, a PE ratio of 30.03, a P/E/G ratio of 3.30 and a beta of 0.87.

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

Insider Activity at Garmin

In other news, Director Sean Biddlecombe sold 986 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $292.88, for a total transaction of $288,779.68. Following the sale, the director owned 6,021 shares of the company’s stock, valued at approximately $1,763,430.48. This trade represents a 14.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua H. Maxfield sold 1,152 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $291.13, for a total value of $335,381.76. Following the sale, the vice president owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. The trade was a 7.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,751 shares of company stock worth $5,454,095 over the last three months. Company insiders own 14.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GRMN shares. Morgan Stanley boosted their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Barclays lifted their target price on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, UBS Group set a $370.00 price target on Garmin in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.