Garmin Ltd. (NYSE:GRMN) Short Interest Update

Garmin Ltd. (NYSE:GRMN) was the target of a large growth in short interest in 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. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,026,351 shares, the days-to-cover ratio is presently 3.9 days. Based on an average daily trading volume, of 1,026,351 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GRMN shares. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday, February 19th. Tigress Financial raised their price target on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Insider Activity

In other news, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the sale, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This represents a 13.83% 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, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the transaction, the executive vice president owned 9,876 shares of the company’s stock, valued at $2,478,579.72. This trade represents a 34.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 57,319 shares of company stock valued at $13,650,815. 15.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Garmin

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. Mather Group LLC. boosted its stake in shares of Garmin by 1.2% in the 3rd quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock worth $923,000 after buying an additional 44 shares during the last quarter. Smith Moore & CO. increased its position in Garmin by 4.3% during the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock valued at $240,000 after acquiring an additional 47 shares during the last quarter. BSW Wealth Partners lifted its holdings in Garmin by 2.9% in the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock valued at $425,000 after acquiring an additional 48 shares during the period. Daymark Wealth Partners LLC boosted its position in Garmin by 0.7% in the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after purchasing an additional 48 shares during the last quarter. Finally, SYM FINANCIAL Corp grew its stake in shares of Garmin by 4.0% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock valued at $319,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

NYSE GRMN traded up $2.15 during trading on Monday, hitting $254.98. 741,320 shares of the company’s stock traded hands, compared to its average volume of 1,067,720. The stock has a fifty day moving average of $214.47 and a two-hundred day moving average of $221.32. Garmin has a 12-month low of $169.26 and a 12-month high of $261.69. The firm has a market cap of $49.08 billion, a P/E ratio of 29.65, a PEG ratio of 3.03 and a beta of 1.00.

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

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

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.