Short Interest in Garmin Ltd. (NYSE:GRMN) Grows By 33.2%

Garmin Ltd. (NYSE:GRMN) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 4,031,945 shares, a growth of 33.2% from the January 29th total of 3,028,012 shares. Based on an average daily trading volume, of 1,026,351 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.6% of the shares of the company are short sold. Currently, 2.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,026,351 shares, the days-to-cover ratio is presently 3.9 days.

Insider Buying and Selling at Garmin

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the transaction, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan Lyman sold 3,805 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction of $956,272.60. Following the sale, the vice president directly owned 7,471 shares of the company’s stock, valued at approximately $1,877,611.72. The trade was a 33.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,319 shares of company stock valued at $13,650,815 in the last quarter. Insiders own 15.38% of the company’s stock.

Institutional Trading of Garmin

A number of large investors have recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in Garmin in the fourth quarter worth about $32,000. Richardson Financial Services Inc. raised its holdings in shares of Garmin by 62.2% in the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 51 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Garmin during the 4th quarter worth approximately $34,000. Cornerstone Planning Group LLC boosted its holdings in Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 142 shares during the period. Finally, GraniteShares Advisors LLC bought a new position in Garmin in the 4th quarter valued at $41,000. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

Shares of Garmin stock traded up $2.15 on Monday, hitting $254.98. 741,320 shares of the company traded hands, compared to its average volume of 1,067,720. The business has a 50-day simple moving average of $214.47 and a 200 day simple moving average of $221.32. Garmin has a 52 week low of $169.26 and a 52 week high of $261.69. The stock has a market capitalization of $49.08 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $2.41 EPS. Garmin’s revenue for the quarter was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts expect that Garmin will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.6%. Garmin’s dividend payout ratio is presently 41.86%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GRMN. Tigress Financial lifted their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Finally, Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

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.