Garmin Ltd. (NYSE:GRMN – Get Free Report)’s share price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $283.31 and traded as low as $265.47. Garmin shares last traded at $272.5620, with a volume of 1,993,912 shares traded.
Trending Headlines about Garmin
Here are the key news stories impacting Garmin this week:
- Positive Sentiment: Garmin reported third-quarter revenue of approximately $1.99 billion, up 12.2% year over year, while earnings per share of $2.76 exceeded the $2.38 analyst consensus. Garmin Q3 Earnings Beat Estimates
- Positive Sentiment: Operating income rose 34% to a record $611.6 million, with operating margin expanding to 30.8% from 25.8% a year earlier. Gross margin also improved to 63.3%. Garmin Announces Third Quarter 2026 Results
- Positive Sentiment: Management raised its 2026 outlook to approximately $8.15 billion in revenue and $10.80 in pro forma EPS, up from prior EPS guidance of $10.00. Growth was led by fitness, outdoor and marine products, with fitness revenue up 16% and outdoor revenue up 20%. Garmin Q3 Earnings Key Takeaways
- Neutral Sentiment: Automotive OEM revenue declined 20%, partially offsetting gains in Garmin’s other businesses. The company also generated $393.9 million in operating cash flow and paid $202 million in dividends. Garmin Q3 Revenue Rises 12 Percent
- Negative Sentiment: Investors focused on management’s warning that soaring memory-chip prices are expected to pressure margins in upcoming periods. That concern appears to have outweighed the earnings beat and raised guidance, prompting the stock’s decline. Why Garmin Stock Dropped After Record Results
Analysts Set New Price Targets
Several brokerages have recently issued reports on GRMN. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. KeyCorp reiterated a “sector weight” rating on shares of Garmin in a report on Thursday. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th. Morgan Stanley upped their price target on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Barclays upped their price target on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $313.71.
Garmin Stock Performance
The company has a 50-day moving average price of $283.31 and a 200-day moving average price of $252.97. The firm has a market capitalization of $52.56 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 3.28 and a beta of 0.82.
Garmin (NYSE:GRMN – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.38. Garmin had a return on equity of 20.95% and a net margin of 24.47%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the business posted $1.99 EPS. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts expect that Garmin Ltd. will post 10.08 earnings per share for the current fiscal year.
Insider Activity at Garmin
In other Garmin news, VP Joshua H. Maxfield sold 1,152 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $291.13, for a total value of $335,381.76. Following the transaction, the vice president directly owned 15,042 shares in the company, valued at $4,379,177.46. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sean Biddlecombe sold 986 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $292.88, for a total transaction of $288,779.68. Following the sale, the director directly owned 6,021 shares in the company, valued at approximately $1,763,430.48. The trade was a 14.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,079 shares of company stock valued at $3,600,099 over the last three months. 14.80% of the stock is owned by corporate insiders.
Institutional Trading of Garmin
Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Garmin by 73.8% during the 1st quarter. Bank of America Corp DE now owns 1,295,199 shares of the scientific and technical instruments company’s stock worth $300,499,000 after purchasing an additional 549,954 shares during the period. Amundi increased its holdings in shares of Garmin by 82.5% in the 1st quarter. Amundi now owns 1,017,314 shares of the scientific and technical instruments company’s stock valued at $236,027,000 after purchasing an additional 459,980 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Garmin by 282.4% in the 1st quarter. Hsbc Holdings PLC now owns 272,512 shares of the scientific and technical instruments company’s stock valued at $63,190,000 after purchasing an additional 201,240 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Garmin by 51.2% in the first quarter. Quantinno Capital Management LP now owns 351,241 shares of the scientific and technical instruments company’s stock valued at $81,491,000 after purchasing an additional 119,011 shares during the period. Finally, Vest Financial LLC acquired a new stake in shares of Garmin in the third quarter valued at about $20,240,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.
Garmin Company Profile
Garmin Ltd. (NYSE: GRMN) designs and manufactures GPS-enabled technology and smart devices for fitness, outdoor recreation, aviation, marine, and automotive markets. Its product portfolio includes smartwatches, cycling computers, sports and activity trackers, satellite communication devices, navigation systems, and related sensors and accessories.
The company also develops aviation systems and avionics, marine chartplotters and sonar equipment, and navigation and infotainment solutions for vehicle manufacturers.
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