6,509 Shares in Garmin Ltd. $GRMN Bought by Fisher Asset Management LLC

Fisher Asset Management LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,509 shares of the scientific and technical instruments company’s stock, valued at approximately $1,359,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quaker Wealth Management LLC boosted its holdings in shares of Garmin by 200.0% in the 2nd 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 during the period. Groupe la Francaise bought a new position in Garmin in the first quarter worth about $33,000. Zions Bancorporation National Association UT acquired a new position in Garmin in the first quarter valued at approximately $38,000. Harbour Investments Inc. grew its holdings in shares of Garmin by 31.8% during the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 64 shares during the last quarter. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of Garmin by 27.5% during the second 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. 81.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GRMN. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial raised their target price on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Morgan Stanley boosted their price target on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Barclays upped their price target on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $241.60.

Garmin Stock Up 0.6%

Shares of NYSE GRMN opened at $203.24 on Friday. The stock has a market cap of $39.09 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.28 and a beta of 1.01. The firm’s 50-day simple moving average is $222.38 and its 200 day simple moving average is $221.97. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69.

Garmin (NYSE:GRMN) last announced its earnings results 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 net margin of 22.63% and a return on equity of 19.42%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm posted $1.99 EPS. Garmin’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. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

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.