AXQ Capital LP Acquires Shares of 1,303 Garmin Ltd. $GRMN

AXQ Capital LP bought a new stake in Garmin Ltd. (NYSE:GRMN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,303 shares of the scientific and technical instruments company’s stock, valued at approximately $272,000.

Other institutional investors also recently modified their holdings of the company. Quaker Wealth Management LLC boosted its stake in Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 264 shares in the last quarter. Groupe la Francaise bought a new stake in shares of Garmin during the 1st quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new position in Garmin during the 1st quarter worth approximately $38,000. SOA Wealth Advisors LLC. lifted its stake in Garmin by 27.5% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 58 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Garmin by 31.8% in the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Trading Up 0.2%

Shares of Garmin stock opened at $192.52 on Tuesday. The business has a 50-day moving average price of $229.43 and a two-hundred day moving average price of $222.45. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The company has a market cap of $37.03 billion, a P/E ratio of 23.71, a PEG ratio of 2.41 and a beta of 1.01.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $1.99 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insider Transactions at Garmin

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

Analyst Upgrades and Downgrades

GRMN has been the subject of several research analyst reports. Tigress Financial upped their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Finally, Barclays boosted their price target on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. One 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 company’s stock. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and a consensus price target of $239.50.

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.