Telemark Asset Management LLC Sells 50,000 Shares of Garmin Ltd. $GRMN

Telemark Asset Management LLC decreased its stake in Garmin Ltd. (NYSE:GRMN) by 50.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 50,000 shares of the scientific and technical instruments company’s stock after selling 50,000 shares during the quarter. Telemark Asset Management LLC’s holdings in Garmin were worth $10,142,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Daymark Wealth Partners LLC grew its holdings in shares of Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock valued at $1,382,000 after acquiring an additional 48 shares in the last quarter. S.A. Mason LLC grew its holdings in shares of Garmin by 2.4% in the 4th quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock valued at $436,000 after acquiring an additional 50 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Garmin by 1.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company’s stock valued at $1,211,000 after acquiring an additional 51 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of Garmin by 0.7% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 7,724 shares of the scientific and technical instruments company’s stock valued at $1,902,000 after acquiring an additional 53 shares in the last quarter. Finally, Enhancing Capital LLC grew its holdings in shares of Garmin by 0.8% in the 3rd quarter. Enhancing Capital LLC now owns 6,898 shares of the scientific and technical instruments company’s stock valued at $1,698,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

Garmin stock opened at $236.62 on Friday. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The stock has a market capitalization of $45.63 billion, a P/E ratio of 26.38, a PEG ratio of 2.79 and a beta of 0.91. The stock has a 50-day simple moving average of $244.62 and a 200 day simple moving average of $225.18.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted $1.61 earnings per share. Garmin’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Analyst Ratings Changes

GRMN has been the subject of several analyst reports. Wall Street Zen upgraded Garmin from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Barclays reduced their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Finally, Tigress Financial lifted their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

About Garmin

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.