Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao Sells 38,879 Shares of Stock

Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 38,879 shares of Garmin stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $87.21, for a total transaction of $3,390,637.59. Following the completion of the transaction, the chairman now directly owns 1,644,429 shares in the company, valued at approximately $143,410,653.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Garmin stock opened at $87.42 on Wednesday. The firm’s 50 day simple moving average is $85.05 and its 200-day simple moving average is $81.65. The company has a market cap of $17.32 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 3.05 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 1.76. Garmin Ltd. has a fifty-two week low of $59.98 and a fifty-two week high of $89.72.

Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $955.00 million for the quarter, compared to the consensus estimate of $930.98 million. Garmin had a net margin of 21.32% and a return on equity of 17.97%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. On average, analysts expect that Garmin Ltd. will post 3.9 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Pearl River Capital LLC purchased a new position in shares of Garmin in the second quarter worth approximately $31,000. HM Payson & Co. purchased a new position in Garmin during the second quarter valued at approximately $37,000. Amica Retiree Medical Trust purchased a new position in Garmin during the second quarter valued at approximately $43,000. CSat Investment Advisory L.P. grew its position in Garmin by 103.4% during the second quarter. CSat Investment Advisory L.P. now owns 708 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 360 shares in the last quarter. Finally, Hanseatic Management Services Inc. grew its position in Garmin by 459.7% during the second quarter. Hanseatic Management Services Inc. now owns 1,942 shares of the scientific and technical instruments company’s stock valued at $155,000 after purchasing an additional 1,595 shares in the last quarter. 42.14% of the stock is currently owned by institutional investors and hedge funds.

GRMN has been the topic of several recent research reports. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research note on Friday, August 16th. BidaskClub raised shares of Garmin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, ValuEngine cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Garmin currently has an average rating of “Hold” and an average price target of $78.66.

About Garmin

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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