Garmin (GRMN) Reaches New 52-Week High at $71.08

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Garmin Ltd. (NASDAQ:GRMN) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $71.08 and last traded at $71.28, with a volume of 329854 shares traded. The stock had previously closed at $70.55.

Several research analysts have recently issued reports on the company. BidaskClub raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, December 15th. Bank of America set a $70.00 target price on Garmin and gave the company a “sell” rating in a research note on Thursday, November 15th. Finally, Morgan Stanley decreased their target price on Garmin from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Garmin presently has a consensus rating of “Hold” and a consensus price target of $68.40.

The company has a market cap of $14.06 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 2.74 and a beta of 0.94.

Hedge funds have recently made changes to their positions in the stock. Boston Advisors LLC bought a new position in Garmin during the fourth quarter valued at about $4,382,000. Wakefield Asset Management LLLP acquired a new position in shares of Garmin in the 3rd quarter valued at $174,000. Wright Investors Service Inc. boosted its position in shares of Garmin by 3.6% in the 3rd quarter. Wright Investors Service Inc. now owns 26,555 shares of the scientific and technical instruments company’s stock valued at $1,860,000 after purchasing an additional 920 shares during the period. State Treasurer State of Michigan boosted its position in shares of Garmin by 9.1% in the 3rd quarter. State Treasurer State of Michigan now owns 35,962 shares of the scientific and technical instruments company’s stock valued at $2,519,000 after purchasing an additional 3,000 shares during the period. Finally, Swiss National Bank boosted its position in shares of Garmin by 18.4% in the 3rd quarter. Swiss National Bank now owns 445,348 shares of the scientific and technical instruments company’s stock valued at $31,197,000 after purchasing an additional 69,200 shares during the period. 42.96% of the stock is owned by institutional investors and hedge funds.

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Garmin Company Profile (NASDAQ:GRMN)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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