SEB Asset Management AB Purchases New Holdings in Garmin Ltd. $GRMN

Key Points

• SEB Asset Management AB opened a new position in Garmin during the first quarter, buying 35,188 shares valued at about $8.16 million.
• Institutional interest in Garmin remains strong, with hedge funds and other investors holding about 81.6% of the stock and several firms increasing their stakes in recent filings.
• Garmin’s latest earnings topped expectations, with $2.08 EPS and $1.75 billion in revenue, while analysts currently view the stock as a Moderate Buy with a consensus target of $269.40.

SEB Asset Management AB acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,188 shares of the scientific and technical instruments company's stock, valued at approximately $8,164,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swiss National Bank raised its position in shares of Garmin by 7.0% in the 1st quarter. Swiss National Bank now owns 479,800 shares of the scientific and technical instruments company's stock valued at $111,318,000 after purchasing an additional 31,400 shares in the last quarter. Mediolanum International Funds Ltd grew its position in shares of Garmin by 68.8% during the first quarter. Mediolanum International Funds Ltd now owns 2,276 shares of the scientific and technical instruments company's stock worth $514,000 after buying an additional 928 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Garmin by 12.7% in the first quarter. California Public Employees Retirement System now owns 329,035 shares of the scientific and technical instruments company's stock worth $76,339,000 after buying an additional 37,168 shares during the last quarter. Kera Capital Partners Inc. increased its stake in shares of Garmin by 31.1% in the first quarter. Kera Capital Partners Inc. now owns 2,844 shares of the scientific and technical instruments company's stock worth $660,000 after buying an additional 674 shares during the last quarter. Finally, NovaPoint Capital LLC raised its holdings in Garmin by 3.5% in the first quarter. NovaPoint Capital LLC now owns 27,606 shares of the scientific and technical instruments company's stock valued at $6,405,000 after acquiring an additional 926 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GRMN. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Wall Street Zen lowered shares of Garmin from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Morgan Stanley set a $249.00 price target on shares of Garmin in a research report on Thursday, April 30th. Finally, Tigress Financial boosted their price objective on Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $269.40.

Insider Activity

In related news, CFO Douglas G. Boessen sold 2,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company's stock, valued at $6,197,317.59. This represents a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.80% of the company's stock.

Garmin Price Performance

Shares of GRMN opened at $236.31 on Wednesday. The stock has a market capitalization of $45.57 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.89 and a beta of 0.90. The business's fifty day moving average price is $238.21 and its 200 day moving average price is $234.17. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin launched CIRQA Smart Band, its first screenless smart band, adding a new wearable product with 24/7 health tracking and no required subscription. Meet CIRQA Smart Band: The screen-free health and fitness tracker from Garmin
• Positive Sentiment: Garmin also introduced the Approach Z10 laser rangefinder, reinforcing its product momentum across golf and outdoor categories. Take the guesswork out of the game with Approach Z10, a compact laser rangefinder from Garmin
• Neutral Sentiment: Several coverage pieces highlighted the new CIRQA launch and described Garmin as a growing rival to subscription-based wearables, but these were largely recap articles rather than new fundamental updates. Garmin Unveils $200 Screenless Tracker as $10 Billion Whoop Faces New Rival
• Neutral Sentiment: Analyst coverage noted a consensus price target around $269.40, which may support sentiment, though it does not change the near-term operating outlook on its own. Garmin Ltd. NYSE: GRMN Receives $269.40 Average Price Target from Analysts
• Negative Sentiment: Garmin had already been under some pressure recently, with prior coverage noting it fell more than the broader market in the latest session, suggesting sentiment can still be volatile despite the product news. Here's Why Garmin (GRMN) Fell More Than Broader Market

Garmin Company Profile

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.

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