Garmin Ltd. (GRMN) Insider Min H. Kao Sells 358,798 Shares

Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 358,798 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $63.89, for a total transaction of $22,923,604.22. Following the completion of the transaction, the insider now directly owns 2,258,046 shares in the company, valued at $144,266,558.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ:GRMN opened at $64.46 on Friday. The stock has a market capitalization of $12.64 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.63 and a beta of 0.96. Garmin Ltd. has a fifty-two week low of $50.85 and a fifty-two week high of $65.96.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.12. The business had revenue of $894.50 million for 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 was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. analysts predict that Garmin Ltd. will post 3.3 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. BidaskClub downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Longbow Research set a $72.00 price target on shares of Garmin and gave the stock a “buy” rating in a report on Thursday, July 19th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $62.80.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. lifted its holdings in Garmin by 15.5% during the second quarter. OppenheimerFunds Inc. now owns 5,994 shares of the scientific and technical instruments company’s stock valued at $366,000 after purchasing an additional 805 shares during the last quarter. Millennium Management LLC lifted its holdings in Garmin by 2.5% during the second quarter. Millennium Management LLC now owns 33,946 shares of the scientific and technical instruments company’s stock valued at $2,071,000 after purchasing an additional 842 shares during the last quarter. Point72 Asia Hong Kong Ltd lifted its holdings in Garmin by 105.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock valued at $102,000 after purchasing an additional 891 shares during the last quarter. Segment Wealth Management LLC lifted its holdings in Garmin by 1.5% during the second quarter. Segment Wealth Management LLC now owns 60,235 shares of the scientific and technical instruments company’s stock valued at $3,674,000 after purchasing an additional 905 shares during the last quarter. Finally, HL Financial Services LLC lifted its holdings in Garmin by 10.0% during the second quarter. HL Financial Services LLC now owns 12,327 shares of the scientific and technical instruments company’s stock valued at $752,000 after purchasing an additional 1,118 shares during the last quarter. 37.98% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Book Value Per Share – BVPS

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

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