Tema Etfs LLC Invests $1.27 Million in Garmin Ltd. $GRMN

Tema Etfs LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 5,139 shares of the scientific and technical instruments company’s stock, valued at approximately $1,265,000.

Other institutional investors also recently bought and sold shares of the company. Quaker Wealth Management LLC boosted its stake in Garmin by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 264 shares during the period. Tradewinds Capital Management LLC bought a new stake in shares of Garmin in the 3rd quarter worth about $44,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Garmin by 96.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 123 shares during the period. SJS Investment Consulting Inc. grew its holdings in Garmin by 1,530.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 199 shares during the last quarter. Finally, SOA Wealth Advisors LLC. grew its holdings in Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 58 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Garmin news, COO Patrick Desbois sold 3,678 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the transaction, the chief operating officer directly owned 61,798 shares in the company, valued at $13,002,299.20. This represents a 5.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the transaction, the chief executive officer directly owned 135,180 shares in the company, valued at $27,878,171.40. This trade represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,594 shares of company stock valued at $3,437,592 over the last three months. 19.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

GRMN has been the subject of several analyst reports. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, December 3rd. Barclays upped their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley increased their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $242.60.

Garmin Stock Performance

Garmin stock opened at $213.93 on Wednesday. The company has a market capitalization of $41.15 billion, a PE ratio of 26.35, a P/E/G ratio of 2.24 and a beta of 1.00. The company has a 50 day moving average price of $201.79 and a 200-day moving average price of $222.75. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company posted $1.99 EPS. Garmin’s revenue was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.