Garmin Ltd. (NASDAQ:GRMN) has received an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $68.75.

Several equities research analysts recently commented on GRMN shares. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday, December 15th. Morgan Stanley cut their price target on shares of Garmin from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday, January 7th. Finally, Bank of America set a $70.00 price target on shares of Garmin and gave the stock a “sell” rating in a report on Thursday, November 15th.

A number of hedge funds and other institutional investors have recently modified their holdings of GRMN. IFP Advisors Inc boosted its stake in Garmin by 0.5% during the 4th quarter. IFP Advisors Inc now owns 31,260 shares of the scientific and technical instruments company’s stock worth $1,964,000 after purchasing an additional 151 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Garmin by 207.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 437 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. ETF Managers Group LLC boosted its stake in Garmin by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 2,210 shares of the scientific and technical instruments company’s stock worth $140,000 after purchasing an additional 300 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Garmin by 5.1% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,938 shares of the scientific and technical instruments company’s stock worth $502,000 after purchasing an additional 385 shares during the last quarter. Finally, Strs Ohio boosted its stake in Garmin by 5.5% during the 4th quarter. Strs Ohio now owns 8,230 shares of the scientific and technical instruments company’s stock worth $521,000 after purchasing an additional 431 shares during the last quarter. 42.96% of the stock is owned by institutional investors.

Shares of NASDAQ GRMN opened at $70.55 on Tuesday. The firm has a market capitalization of $13.97 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.74 and a beta of 0.94. Garmin has a one year low of $57.01 and a one year high of $70.77.

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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Analyst Recommendations for Garmin (NASDAQ:GRMN)

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