Garmin Ltd. $GRMN Shares Purchased by Inspire Investing LLC

Inspire Investing LLC boosted its position in Garmin Ltd. (NYSE:GRMN) by 65.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 15,556 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,128 shares during the period. Inspire Investing LLC’s holdings in Garmin were worth $3,247,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GRMN. Groupe la Francaise acquired a new position in shares of Garmin during the 1st quarter valued at about $33,000. TFC Financial Management Inc. increased its stake in shares of Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 147 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Garmin during the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Garmin during the 1st quarter valued at about $38,000. Finally, Garde Capital Inc. acquired a new position in shares of Garmin during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction 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 $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 15.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GRMN. Tigress Financial upped their price objective on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Barclays reissued an “underweight” rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday. Finally, Morgan Stanley increased their target price on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and an average target price of $228.75.

Garmin Trading Down 3.2%

NYSE GRMN opened at $248.18 on Friday. The company’s fifty day simple moving average is $238.90 and its 200-day simple moving average is $216.49. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69. The stock has a market cap of $47.77 billion, a P/E ratio of 30.60, a PEG ratio of 2.81 and a beta of 0.98.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.90 by $0.27. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, research analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

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.