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.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. Marshall Wace LLP acquired a new position in shares of Garmin during the 2nd quarter worth about $27,367,000. Schroder Investment Management Group raised its position in shares of Garmin by 35.8% during the 2nd quarter. Schroder Investment Management Group now owns 1,700,423 shares of the scientific and technical instruments company’s stock worth $103,658,000 after purchasing an additional 448,275 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Garmin by 119.3% during the 2nd quarter. Wells Fargo & Company MN now owns 499,964 shares of the scientific and technical instruments company’s stock worth $30,497,000 after purchasing an additional 272,012 shares during the last quarter. WBI Investments Inc. acquired a new position in shares of Garmin during the 2nd quarter worth about $12,553,000. Finally, Avalon Advisors LLC acquired a new position in shares of Garmin during the 1st quarter worth about $11,720,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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.

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