Fisher Asset Management LLC Takes Position in Garmin Ltd. $GRMN

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

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

Garmin Price Performance

Shares of GRMN opened at $203.24 on Friday. The business’s 50-day moving average is $222.38 and its 200-day moving average is $221.97. The company has a market capitalization of $39.09 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 2.28 and a beta of 1.01. 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 quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, meeting analysts’ consensus estimates of $1.99. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Barclays upped their price objective on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Tigress Financial raised their target price 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. 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. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Garmin currently has a consensus rating of “Hold” and an average price target of $241.60.

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.