Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 150,000 shares of the business’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $60.05, for a total value of $9,007,500.00. Following the transaction, the chairman now owns 8,760,554 shares of the company’s stock, valued at approximately $526,071,267.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of GRMN stock opened at $59.99 on Wednesday. Garmin Ltd. has a 12 month low of $48.50 and a 12 month high of $65.96. The company has a market capitalization of $11,852.95, a price-to-earnings ratio of 20.35, a PEG ratio of 2.35 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The company had revenue of $888.49 million for the quarter, compared to the consensus estimate of $872.73 million. During the same quarter in the previous year, the business earned $0.73 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. sell-side analysts anticipate that Garmin Ltd. will post 3.05 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Heartland Advisors Inc. bought a new stake in shares of Garmin in the 4th quarter worth $208,000. Garrison Financial Corp bought a new stake in shares of Garmin in the 4th quarter worth $211,000. LMR Partners LLP bought a new stake in shares of Garmin in the 4th quarter worth $283,000. Financial Advocates Investment Management bought a new stake in shares of Garmin in the 4th quarter worth $320,000. Finally, Sciencast Management LP bought a new stake in shares of Garmin in the 4th quarter worth $355,000. 39.29% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on the company. BidaskClub upgraded Garmin from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. ValuEngine lowered Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Tuesday. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Monday, March 12th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $60.00 price target (up previously from $57.00) on shares of Garmin in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Garmin has a consensus rating of “Hold” and a consensus target price of $57.00.
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Garmin Company Profile
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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