Telemark Asset Management LLC Has $10.14 Million Stock Position in Garmin Ltd. $GRMN

Telemark Asset Management LLC lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the scientific and technical instruments company’s stock after selling 50,000 shares during the quarter. Telemark Asset Management LLC’s holdings in Garmin were worth $10,142,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Garmin by 0.4% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,601 shares of the scientific and technical instruments company’s stock worth $9,453,000 after buying an additional 200 shares during the period. J.W. Cole Advisors Inc. raised its stake in Garmin by 5.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 1,670 shares of the scientific and technical instruments company’s stock worth $310,000 after buying an additional 92 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Garmin during the 4th quarter worth $68,106,000. Regency Capital Management Inc. DE acquired a new stake in Garmin during the 4th quarter worth $2,731,000. Finally, Daiwa Securities Group Inc. raised its stake in Garmin by 2.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 38,340 shares of the scientific and technical instruments company’s stock worth $7,778,000 after buying an additional 866 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday, April 30th. Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays dropped their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Tigress Financial raised their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One investment 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Price Performance

GRMN opened at $236.62 on Friday. The business’s 50-day moving average price is $244.62 and its two-hundred day moving average price is $225.18. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32. The company has a market capitalization of $45.63 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 2.79 and a beta of 0.91.

Garmin (NYSE:GRMN) last released its quarterly earnings results 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 return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $1.61 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

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.