Garmin Ltd. (GRMN) Chairman Min H. Kao Sells 125,796 Shares
Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 125,796 shares of the business’s stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $65.38, for a total transaction of $8,224,542.48. Following the transaction, the chairman now owns 1,901,429 shares of the company’s stock, valued at $124,315,428.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
GRMN opened at $62.59 on Friday. Garmin Ltd. has a twelve month low of $54.57 and a twelve month high of $70.77. The stock has a market cap of $13.88 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.89 and a beta of 0.98.
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 for the quarter, topping the consensus estimate of $0.87 by $0.12. Garmin had a net margin of 18.72% and a return on equity of 15.98%. The firm had revenue of $894.50 million during the quarter, compared to the consensus estimate of $844.76 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts forecast that Garmin Ltd. will post 3.3 earnings per share for the current year.
GRMN has been the subject of a number of research reports. BidaskClub downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Morgan Stanley set a $77.00 price objective on shares of Garmin and gave the stock an “equal weight” rating in a research report on Friday, September 21st. Finally, Longbow Research set a $72.00 price objective on shares of Garmin and gave the stock a “buy” rating in a research report on Thursday, July 19th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.40.
Garmin Company Profile
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.
Featured Story: How to Calculate Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.