Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 6,617 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $64.54, for a total transaction of $427,061.18. Following the completion of the sale, the chairman now owns 1,908,046 shares in the company, valued at approximately $123,145,288.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

GRMN stock opened at $65.35 on Monday. The firm has a market cap of $12.64 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.96. Garmin Ltd. has a 52-week low of $50.85 and a 52-week high of $65.96.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.12. The firm had revenue of $894.50 million during the quarter, compared to the consensus estimate of $844.76 million. Garmin had a net margin of 18.72% and a return on equity of 15.98%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. sell-side analysts forecast that Garmin Ltd. will post 3.3 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new position in shares of Garmin during the first quarter valued at $465,000. Cynosure Advisors LLC bought a new position in Garmin during the first quarter worth $209,000. Stokes & Hubbell Capital Management LLC bought a new position in Garmin during the second quarter worth $244,000. JPMorgan Chase & Co. raised its stake in Garmin by 40.4% during the first quarter. JPMorgan Chase & Co. now owns 864,999 shares of the scientific and technical instruments company’s stock worth $50,974,000 after buying an additional 249,009 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Garmin by 24.7% during the first quarter. Toronto Dominion Bank now owns 60,403 shares of the scientific and technical instruments company’s stock worth $3,560,000 after buying an additional 11,952 shares during the last quarter. 37.98% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. BidaskClub lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Longbow Research set a $72.00 price target on shares of Garmin and gave the company a “buy” rating in a research note on Thursday, July 19th. Finally, ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Garmin has an average rating of “Hold” and an average target price of $62.80.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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