Assenagon Asset Management S.A. Has $30.52 Million Position in Garmin Ltd. $GRMN

Assenagon Asset Management S.A. raised its holdings in Garmin Ltd. (NYSE:GRMN) by 98.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,568 shares of the scientific and technical instruments company’s stock after purchasing an additional 65,209 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Garmin were worth $30,525,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GRMN. Faithward Advisors LLC boosted its stake in Garmin by 69.2% during the 1st quarter. Faithward Advisors LLC now owns 5,760 shares of the scientific and technical instruments company’s stock worth $1,336,000 after acquiring an additional 2,356 shares during the last quarter. HHM Wealth Advisors LLC raised its stake in Garmin by 6.9% in the first quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock valued at $162,000 after buying an additional 45 shares during the period. Krilogy Financial LLC lifted its position in shares of Garmin by 16.5% in the first quarter. Krilogy Financial LLC now owns 4,401 shares of the scientific and technical instruments company’s stock valued at $1,021,000 after buying an additional 624 shares during the last quarter. Anchyra Partners LLC boosted its stake in shares of Garmin by 3.0% during the 1st quarter. Anchyra Partners LLC now owns 6,421 shares of the scientific and technical instruments company’s stock worth $1,490,000 after acquiring an additional 189 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Garmin by 192.8% during the 1st quarter. SG Americas Securities LLC now owns 506,273 shares of the scientific and technical instruments company’s stock worth $117,460,000 after acquiring an additional 333,345 shares during the period. 81.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the topic of several recent research reports. Morgan Stanley set a $249.00 target price on shares of Garmin in a report on Thursday, April 30th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Tigress Financial lifted their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Barclays cut their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Finally, Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Price Performance

Shares of Garmin stock opened at $233.02 on Friday. The business has a 50-day simple moving average of $241.80 and a 200 day simple moving average of $229.52. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The firm has a market capitalization of $44.94 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.78 and a beta of 0.91.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts expect that Garmin Ltd. will post 9.53 EPS for the current year.

Insider Buying and Selling at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 15.38% of the company’s stock.

Garmin 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.