Garmin Ltd. (NASDAQ:GRMN) was the target of unusually large options trading on Monday. Investors purchased 5,177 call options on the stock. This represents an increase of 1,409% compared to the average daily volume of 343 call options.
Garmin (GRMN) traded down $0.38 during trading hours on Wednesday, hitting $60.26. 883,057 shares of the stock were exchanged, compared to its average volume of 1,410,000. Garmin has a 52 week low of $48.50 and a 52 week high of $65.96. The company has a market capitalization of $11,300.00, a PE ratio of 16.38, a P/E/G ratio of 2.40 and a beta of 0.97.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. Garmin had a net margin of 22.51% and a return on equity of 15.16%. The firm had revenue of $888.49 million during the quarter, compared to analysts’ expectations of $872.73 million. During the same quarter in the previous year, the company posted $0.73 EPS. Garmin’s revenue was up 3.2% on a year-over-year basis. research analysts forecast that Garmin will post 3.05 EPS for the current year.
Several equities research analysts have recently issued reports on GRMN shares. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Thursday, January 4th. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Tigress Financial restated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Finally, Credit Suisse Group restated an “underperform” rating and set a $58.00 price target (up previously from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $57.13.
In other Garmin news, VP Andrew R. Etkind sold 1,929 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $60.61, for a total transaction of $116,916.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles Peffer sold 9,905 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $60.55, for a total value of $599,747.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,042 shares of company stock valued at $3,070,184. 18.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Heartland Advisors Inc. acquired a new stake in Garmin during the 4th quarter worth $208,000. Garrison Financial Corp acquired a new stake in Garmin during the 4th quarter worth $211,000. Bank of Hawaii acquired a new stake in Garmin during the 3rd quarter worth $206,000. Cambridge Advisors Inc. acquired a new stake in Garmin during the 3rd quarter worth $208,000. Finally, Thrivent Financial For Lutherans grew its holdings in Garmin by 2.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,340 shares of the scientific and technical instruments company’s stock worth $221,000 after acquiring an additional 100 shares during the period. 39.37% of the stock is owned by hedge funds and other institutional investors.
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Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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