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

Garmin Ltd. (NYSE:GRMN) insider Cheng-Wei Wang sold 9,941 shares of Garmin stock in a transaction that occurred on 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 owned 29,506 shares of the company’s stock, valued at $8,832,916.16. This represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Garmin Stock Performance

Shares of GRMN opened at $293.14 on Friday. The firm has a market cap of $56.53 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 3.30 and a beta of 0.87. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $314.28. The firm’s 50-day simple moving average is $262.07 and its 200 day simple moving average is $246.98.

Garmin (NYSE:GRMN) last issued 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 analysts’ consensus estimates of $2.30 by $0.51. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities analysts forecast that Garmin Ltd. will post 10.08 earnings per share for the current year.

Institutional Investors Weigh In On Garmin

A number of large investors have recently bought and sold shares of GRMN. Groupe la Francaise raised its position in shares of Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 97 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Garmin during the 4th quarter worth approximately $32,000. Atlas Capital Advisors Inc. bought a new position in Garmin in the fourth quarter valued at approximately $34,000. Archer Investment Corp bought a new position in Garmin in the first quarter valued at approximately $37,000. Finally, Torren Management LLC acquired a new position in Garmin during the fourth quarter valued at approximately $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. UBS Group set a $370.00 target price on shares of Garmin in a report on Thursday, August 6th. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. Finally, Barclays increased their price target on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.