Garmin (NYSE:GRMN) Shares Gap Up Following Better-Than-Expected Earnings

Garmin Ltd. (NYSE:GRMN) shares gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $216.98, but opened at $251.19. Garmin shares last traded at $237.2620, with a volume of 1,207,312 shares changing hands.

The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.40. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS.

Garmin News Summary

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin reported Q4 EPS of $2.79 and revenue of $2.12B (up 16.6% YoY), both topping consensus; the release also framed a record fiscal year — a core driver of the stock’s rally. Garmin announces fourth quarter and fiscal year 2025 results
• Positive Sentiment: Management set FY2026 EPS guidance at $9.35 and revenue guidance near $7.9B (above Street estimates), and announced a 17% dividend hike plus a $500M share‑repurchase program — materially bullish for shareholder returns. Garmin forecasts upbeat annual results on strong wearables demand
• Positive Sentiment: Analyst and market commentary highlighted broad strength across Fitness, Aviation and Marine segments and institutional buying, supporting multiple expansion if execution continues. Wall Street Is Losing Its Mind Over Garmin’s Q4 Blowout
• Neutral Sentiment: Margin dynamics are mixed: gross margin was roughly flat to down slightly but operating improvements and strong free cash flow (reported ~$430M) helped lift operating income — investors will watch margin trends going forward. Garmin (GRMN) Q4 Earnings and Revenues Surpass Estimates
• Negative Sentiment: Some analysts remain cautious after a period of underperformance versus the market; without sustained margin expansion and execution, multiple expansion could be limited. Garmin Stock: Analyst Estimates & Ratings
• Negative Sentiment: Insider selling: Garmin’s CFO reported a small sale (479 shares) last week — a modest negative signal but immaterial in size relative to institutional ownership. Insider Selling: Garmin (NYSE:GRMN) CFO Sells 479 Shares of Stock

Analyst Upgrades and Downgrades

GRMN has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Wednesday, December 3rd. Morgan Stanley increased their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Finally, Barclays upgraded shares of Garmin from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $208.00 to $217.00 in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.40.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the transaction, the chief financial officer directly owned 28,916 shares in the company, valued at $5,964,214.16. This represents a 7.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 10,431 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the sale, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,073 shares of company stock valued at $3,540,774 over the last three months. Company insiders own 15.38% of the company’s stock.

Institutional Trading of Garmin

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Garmin by 2.5% during the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after acquiring an additional 499,235 shares in the last quarter. State Street Corp raised its position in Garmin by 1.8% in the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after acquiring an additional 126,677 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Garmin by 6.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock valued at $1,229,810,000 after buying an additional 356,161 shares in the last quarter. Geode Capital Management LLC increased its stake in Garmin by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock worth $958,405,000 after buying an additional 59,321 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Garmin during the second quarter valued at approximately $410,304,000. 81.60% of the stock is owned by institutional investors.

Garmin Price Performance

The company has a market capitalization of $45.62 billion, a PE ratio of 29.22, a P/E/G ratio of 2.27 and a beta of 1.00. The business has a 50-day moving average of $206.83 and a 200 day moving average of $220.21.

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.