Min H. Kao Sells 50,000 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 50,000 shares of the company’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $61.32, for a total transaction of $3,066,000.00. Following the transaction, the chairman now owns 5,811,913 shares in the company, valued at $356,386,505.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NASDAQ:GRMN opened at $62.37 on Wednesday. The company has a market capitalization of $11.66 billion, a P/E ratio of 21.21, a PEG ratio of 2.37 and a beta of 0.99. Garmin Ltd. has a fifty-two week low of $49.80 and a fifty-two week high of $65.96.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The business had revenue of $711.00 million for the quarter, compared to the consensus estimate of $670.71 million. Garmin had a net margin of 18.57% and a return on equity of 15.66%. Garmin’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. research analysts predict that Garmin Ltd. will post 3.13 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Garmin by 1.3% in the 4th quarter. BlackRock Inc. now owns 11,270,906 shares of the scientific and technical instruments company’s stock valued at $671,406,000 after acquiring an additional 141,665 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Garmin by 5.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,130,748 shares of the scientific and technical instruments company’s stock valued at $125,662,000 after acquiring an additional 117,841 shares during the period. Disciplined Growth Investors Inc. MN raised its position in shares of Garmin by 0.6% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 1,624,085 shares of the scientific and technical instruments company’s stock valued at $96,747,000 after acquiring an additional 9,409 shares during the period. Geode Capital Management LLC raised its position in shares of Garmin by 14.6% in the 4th quarter. Geode Capital Management LLC now owns 1,506,624 shares of the scientific and technical instruments company’s stock valued at $89,595,000 after acquiring an additional 191,405 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Garmin by 12.6% in the 4th quarter. Schroder Investment Management Group now owns 1,460,465 shares of the scientific and technical instruments company’s stock valued at $87,000,000 after acquiring an additional 163,211 shares during the period. Institutional investors and hedge funds own 39.98% of the company’s stock.

GRMN has been the topic of a number of research reports. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Credit Suisse Group restated a “hold” rating on shares of Garmin in a research report on Thursday, February 22nd. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Tuesday, March 20th. BidaskClub downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, Tigress Financial restated a “buy” rating on shares of Garmin in a research report on Monday, March 12th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $60.40.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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