Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $62.82, for a total value of $7,852,500.00. Following the completion of the sale, the chairman now owns 1,824,429 shares of the company’s stock, valued at $114,610,629.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ:GRMN traded down $0.47 on Friday, reaching $66.11. 970,436 shares of the company traded hands, compared to its average volume of 1,374,480. Garmin Ltd. has a fifty-two week low of $57.01 and a fifty-two week high of $70.77. The company has a market capitalization of $13.02 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98.
Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.24. The company had revenue of $810.01 million during the quarter, compared to the consensus estimate of $784.06 million. Garmin had a return on equity of 16.95% and a net margin of 19.45%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, research analysts expect that Garmin Ltd. will post 3.47 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. BidaskClub upgraded Garmin from a “sell” rating to a “hold” rating in a research report on Saturday, October 27th. Morgan Stanley set a $77.00 target price on Garmin and gave the stock an “equal weight” rating in a research report on Friday, September 21st. Finally, Longbow Research set a $75.00 target price on Garmin and gave the stock a “buy” rating in a research report on Thursday, September 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.40.
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Garmin Company Profile
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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