AXQ Capital LP Makes New Investment in Garmin Ltd. $GRMN

AXQ Capital LP bought a new position in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,734 shares of the scientific and technical instruments company’s stock, valued at approximately $960,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crestmont Private Wealth LLC grew its stake in Garmin by 11.6% in the 4th quarter. Crestmont Private Wealth LLC now owns 1,215 shares of the scientific and technical instruments company’s stock worth $246,000 after acquiring an additional 126 shares during the period. New Mexico Educational Retirement Board grew its stake in Garmin by 7.2% in the 4th quarter. New Mexico Educational Retirement Board now owns 7,450 shares of the scientific and technical instruments company’s stock worth $1,511,000 after acquiring an additional 500 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Garmin by 4.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 56,102 shares of the scientific and technical instruments company’s stock worth $11,380,000 after acquiring an additional 2,261 shares during the period. MUFG Securities EMEA plc grew its stake in Garmin by 6,790.6% in the 4th quarter. MUFG Securities EMEA plc now owns 215,815 shares of the scientific and technical instruments company’s stock worth $43,778,000 after acquiring an additional 212,683 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Garmin by 40.0% in the 4th quarter. BNP Paribas Financial Markets now owns 298,186 shares of the scientific and technical instruments company’s stock worth $60,487,000 after acquiring an additional 85,259 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Up 1.7%

Shares of NYSE GRMN opened at $240.84 on Wednesday. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The firm has a fifty day moving average of $244.60 and a 200-day moving average of $224.15. The stock has a market capitalization of $46.45 billion, a PE ratio of 26.85, a P/E/G ratio of 2.80 and a beta of 0.91.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $1.61 EPS. The business’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 research analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Tigress Financial lifted their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. Finally, Barclays lowered their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $269.40.

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.