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Garmin Ltd. $GRMN Shares Acquired by Sequoia Financial Advisors LLC

Garmin logo with Computer and Technology background

Key Points

  • Sequoia Financial Advisors LLC increased its holdings in Garmin Ltd. by 75.5%, owning 6,020 shares worth approximately $1,256,000 following the purchase of an additional 2,589 shares in the second quarter.
  • Garmin reported a 20.4% year-over-year revenue growth in its latest earnings report, achieving $1.81 billion in revenue and an earnings per share of $2.17.
  • A significant portion of Garmin's stock, approximately 81.60%, is owned by institutional investors and hedge funds, with several firms increasing their positions in the company during the same quarter.
  • MarketBeat previews top five stocks to own in November.

Sequoia Financial Advisors LLC increased its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 75.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,020 shares of the scientific and technical instruments company's stock after buying an additional 2,589 shares during the period. Sequoia Financial Advisors LLC's holdings in Garmin were worth $1,256,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. SW Investment Management LLC boosted its holdings in shares of Garmin by 57.7% in the 2nd quarter. SW Investment Management LLC now owns 205,000 shares of the scientific and technical instruments company's stock valued at $42,788,000 after buying an additional 75,000 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Garmin by 1.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,193 shares of the scientific and technical instruments company's stock valued at $5,467,000 after buying an additional 304 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Garmin by 6.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,451 shares of the scientific and technical instruments company's stock valued at $512,000 after buying an additional 147 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Garmin by 5.4% in the 2nd quarter. Apollon Wealth Management LLC now owns 20,666 shares of the scientific and technical instruments company's stock valued at $4,313,000 after buying an additional 1,054 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Garmin by 65.0% in the 2nd quarter. Inspire Investing LLC now owns 15,556 shares of the scientific and technical instruments company's stock valued at $3,247,000 after buying an additional 6,128 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Up 1.0%

GRMN stock opened at $249.20 on Friday. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69. The company has a market capitalization of $47.97 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.70 and a beta of 0.98. The firm's 50-day moving average is $240.92 and its two-hundred day moving average is $217.62.

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

Insider Activity at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the sale, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.38% of the company's stock.

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on GRMN

About Garmin

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN - Free Report).

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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