Korea Investment CORP Has $18.75 Million Holdings in Garmin Ltd. $GRMN

Korea Investment CORP lessened its position in shares of Garmin Ltd. (NYSE:GRMN) by 10.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,854 shares of the scientific and technical instruments company’s stock after selling 10,541 shares during the period. Korea Investment CORP’s holdings in Garmin were worth $18,754,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after buying an additional 463 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Garmin by 22.1% in the first quarter. Avantax Advisory Services Inc. now owns 4,399 shares of the scientific and technical instruments company’s stock valued at $955,000 after acquiring an additional 797 shares in the last quarter. Cetera Investment Advisers increased its position in Garmin by 16.0% during the first quarter. Cetera Investment Advisers now owns 32,000 shares of the scientific and technical instruments company’s stock worth $6,948,000 after acquiring an additional 4,425 shares during the period. LPL Financial LLC raised its stake in Garmin by 15.6% in the 1st quarter. LPL Financial LLC now owns 117,515 shares of the scientific and technical instruments company’s stock worth $25,516,000 after purchasing an additional 15,880 shares in the last quarter. Finally, Foundations Investment Advisors LLC bought a new stake in Garmin in the 1st quarter valued at about $295,000. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of several recent research reports. Tigress Financial raised their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Finally, Barclays upped their target price on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $239.50.

Garmin Price Performance

Shares of Garmin stock opened at $195.72 on Friday. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The firm has a market capitalization of $37.64 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.41 and a beta of 1.01. The company’s 50 day moving average price is $226.13 and its two-hundred day moving average price is $222.21.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.99. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.