Nomura Holdings Inc. Buys 2,353 Shares of Garmin Ltd. $GRMN

Key Points

• Nomura Holdings Inc. increased its stake in Garmin Ltd. by 46.4% in the first quarter, acquiring an additional 2,353 shares, bringing its total holdings to 7,419 shares valued at $1,611,000.
• Several other institutional investors, including Kestra Private Wealth Services LLC and Golden State Wealth Management LLC, also raised their positions in Garmin, with ownership now at 81.60% among institutional investors.
• Garmin recently reported earnings of $2.17 EPS, exceeding estimates, and set its FY 2025 guidance at 8.000 EPS, while analysts maintain a consensus price target of $222.00 for the stock.

Nomura Holdings Inc. raised its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 46.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,419 shares of the scientific and technical instruments company's stock after acquiring an additional 2,353 shares during the quarter. Nomura Holdings Inc.'s holdings in Garmin were worth $1,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its holdings in shares of Garmin by 18.7% in the first quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company's stock worth $1,858,000 after acquiring an additional 1,347 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Garmin by 23.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company's stock worth $500,000 after acquiring an additional 437 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Garmin by 46.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company's stock worth $19,480,000 after acquiring an additional 28,543 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Garmin by 255.2% in the first quarter. Golden State Wealth Management LLC now owns 444 shares of the scientific and technical instruments company's stock worth $96,000 after acquiring an additional 319 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Garmin by 12.9% in the first quarter. Federated Hermes Inc. now owns 675 shares of the scientific and technical instruments company's stock worth $147,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the sale, the chief executive officer directly owned 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cheng-Wei Wang sold 10,202 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the sale, the insider owned 36,092 shares in the company, valued at $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,960 shares of company stock worth $4,376,918 over the last ninety days. Insiders own 19.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GRMN shares. Barclays reaffirmed an "underweight" rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley upped their price objective on Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $222.00.

Garmin Price Performance

Shares of GRMN stock opened at $234.14 on Wednesday. The business's 50 day simple moving average is $225.72 and its 200 day simple moving average is $211.74. Garmin Ltd. has a one year low of $160.94 and a one year high of $246.50. The stock has a market capitalization of $45.07 billion, a PE ratio of 28.87, a PEG ratio of 2.66 and a beta of 1.00.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The firm'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. As a group, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

About Garmin

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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