FSM Wealth Advisors LLC Grows Stock Position in Garmin Ltd. $GRMN

Key Points

• FSM Wealth Advisors LLC significantly increased its stake in Garmin Ltd. by 106.3% in the second quarter, now owning 3,088 shares worth approximately $662,000.
• Several analysts have raised their price targets for Garmin, with estimates reaching as high as $305.00, while the average target price now stands at $228.75.
• Garmin reported earnings of $2.17 EPS for the last quarter, exceeding expectations and representing a 20.4% revenue increase compared to the same period last year.

FSM Wealth Advisors LLC lifted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 106.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,088 shares of the scientific and technical instruments company's stock after purchasing an additional 1,591 shares during the quarter. FSM Wealth Advisors LLC's holdings in Garmin were worth $662,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Fulton Bank N.A. raised its stake in shares of Garmin by 2.6% during the second quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company's stock worth $393,000 after purchasing an additional 47 shares during the last quarter. Arrow Investment Advisors LLC raised its position in Garmin by 3.6% in the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company's stock worth $295,000 after acquiring an additional 49 shares in the last quarter. Curbstone Financial Management Corp raised its position in Garmin by 1.3% in the second quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company's stock worth $822,000 after acquiring an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Garmin by 7.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company's stock worth $163,000 after acquiring an additional 52 shares in the last quarter. Finally, SOA Wealth Advisors LLC. raised its position in Garmin by 27.5% in the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company's stock worth $56,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Wall Street Analysts Forecast Growth

GRMN has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Garmin from $186.00 to $193.00 and gave the stock an "underweight" rating in a research report on Friday, September 19th. Tigress Financial raised their price target on Garmin from $285.00 to $305.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. raised their price target on Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a research report on Wednesday, October 8th. Finally, Barclays restated an "underweight" rating and issued a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $228.75.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares of the company's stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 15.38% of the stock is owned by corporate insiders.

Garmin Trading Down 0.6%

Garmin stock opened at $249.85 on Thursday. The stock has a 50-day moving average price of $241.91 and a 200 day moving average price of $218.77. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69. The stock has a market cap of $48.09 billion, a PE ratio of 30.85, a P/E/G ratio of 2.75 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.27. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company's revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

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