35,188 Shares in Garmin Ltd. $GRMN Bought by SEB Asset Management AB

SEB Asset Management AB bought a new position in Garmin Ltd. (NYSE:GRMN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 35,188 shares of the scientific and technical instruments company’s stock, valued at approximately $8,164,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new position in shares of Garmin during the fourth quarter worth about $32,000. Archer Investment Corp bought a new stake in Garmin in the 1st quarter valued at about $37,000. Atlas Capital Advisors Inc. bought a new stake in Garmin in the 4th quarter valued at about $34,000. Avalon Trust Co acquired a new position in Garmin during the 1st quarter valued at about $47,000. Finally, Torren Management LLC acquired a new position in Garmin during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

Garmin stock opened at $236.31 on Wednesday. The company has a 50 day moving average price of $238.21 and a 200 day moving average price of $234.17. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The firm has a market capitalization of $45.57 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 2.89 and a beta of 0.90.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company posted $1.61 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GRMN has been the topic of several analyst reports. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Barclays decreased their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Finally, Tigress Financial lifted their target price on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin News Roundup

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin launched CIRQA Smart Band, its first screenless smart band, adding a new wearable product with 24/7 health tracking and no required subscription. Meet CIRQA Smart Band: The screen-free health and fitness tracker from Garmin
• Positive Sentiment: Garmin also introduced the Approach Z10 laser rangefinder, reinforcing its product momentum across golf and outdoor categories. Take the guesswork out of the game with Approach Z10, a compact laser rangefinder from Garmin
• Neutral Sentiment: Several coverage pieces highlighted the new CIRQA launch and described Garmin as a growing rival to subscription-based wearables, but these were largely recap articles rather than new fundamental updates. Garmin Unveils $200 Screenless Tracker as $10 Billion Whoop Faces New Rival
• Neutral Sentiment: Analyst coverage noted a consensus price target around $269.40, which may support sentiment, though it does not change the near-term operating outlook on its own. Garmin Ltd. (NYSE:GRMN) Receives $269.40 Average Price Target from Analysts
• Negative Sentiment: Garmin had already been under some pressure recently, with prior coverage noting it fell more than the broader market in the latest session, suggesting sentiment can still be volatile despite the product news. Here’s Why Garmin (GRMN) Fell More Than Broader Market

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.80% of the company’s stock.

Garmin Company Profile

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.