Garmin Ltd. $GRMN Shares Bought by V Square Quantitative Management LLC

Key Points

• V Square Quantitative Management LLC increased its stake in Garmin Ltd. by 94.5% during the second quarter, owning a total of 3,758 shares valued at $784,000.
• Garmin's stock has received varied ratings from analysts, with a target price range of $167.00 to $250.00, and an average rating of "Hold".
• The company reported earnings of $2.17 per share for the last quarter, exceeding analyst expectations and boasting a revenue increase of 20.4% year-over-year.

V Square Quantitative Management LLC raised its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 94.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,758 shares of the scientific and technical instruments company's stock after acquiring an additional 1,826 shares during the period. V Square Quantitative Management LLC's holdings in Garmin were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. City Holding Co. boosted its stake in Garmin by 12.1% in the second quarter. City Holding Co. now owns 8,665 shares of the scientific and technical instruments company's stock valued at $1,809,000 after acquiring an additional 934 shares in the last quarter. First American Bank boosted its stake in Garmin by 5.6% in the second quarter. First American Bank now owns 14,212 shares of the scientific and technical instruments company's stock valued at $2,966,000 after acquiring an additional 749 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Garmin by 12.1% in the second quarter. State of Alaska Department of Revenue now owns 30,248 shares of the scientific and technical instruments company's stock valued at $6,313,000 after acquiring an additional 3,255 shares in the last quarter. NovaPoint Capital LLC boosted its stake in Garmin by 3.1% in the second quarter. NovaPoint Capital LLC now owns 23,701 shares of the scientific and technical instruments company's stock valued at $4,947,000 after acquiring an additional 706 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Garmin by 4.1% in the second quarter. Mather Group LLC. now owns 3,705 shares of the scientific and technical instruments company's stock valued at $773,000 after acquiring an additional 145 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GRMN shares. Barclays restated an "underweight" rating and issued a $167.00 target price (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Morgan Stanley raised their price target on shares of Garmin from $186.00 to $193.00 and gave the stock an "underweight" rating in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $223.75.

Garmin Trading Up 2.1%

NYSE GRMN opened at $245.53 on Tuesday. The company has a fifty day simple moving average of $234.25 and a two-hundred day simple moving average of $213.82. The stock has a market cap of $47.26 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.63 and a beta of 1.00. Garmin Ltd. has a 12-month low of $160.94 and a 12-month high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm's revenue was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider owned 36,092 shares of the company's stock, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the transaction, the chief financial officer directly owned 29,146 shares of the company's stock, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company's stock.

Garmin 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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