Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms; and Connect IQ, an application development platform. The company's Outdoor segment offers adventure watches, outdoor handhelds, golf devices, and dog tracking and training devices. Its Aviation segment designs, manufactures, and markets various aircraft avionics solutions comprising integrated flight decks, electronic flight displays and instrumentation, navigation and communication products, automatic flight control systems and safety-enhancing technologies, audio control systems, engine indication systems, traffic awareness and avoidance solutions, ADS-B and transponder solutions, weather information and avoidance solutions, datalink and connectivity solutions, portable GPS navigators and wearables, and various services products. The company's Marine segment provides chartplotters and multi-function displays, cartography products, fish finders, sonar products, autopilot systems, radars, compliant instrument displays and sensors, VHF communication radios, handhelds and wearable devices, sailing products, entertainment, digital switching products, and trolling motors. Its Auto segment offers embedded computing models and infotainment systems; personal navigation devices; and cameras. The company sells its products through independent retailers, online retailers, dealers, distributors, installation and repair shops, and original equipment manufacturers, as well as an online webshop, garmin.com. Garmin Ltd. was founded in 1989 and is based in Schaffhausen, Switzerland.
IPO Year: 2000
Exchange: NASDAQ
Website: garmin.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/7/2024 | $155.00 → $138.00 | Equal-Weight → Underweight | Morgan Stanley |
| 9/13/2024 | $181.00 → $133.00 | Equal Weight → Underweight | Barclays |
| 5/22/2024 | $165.00 → $150.00 | Neutral → Underperform | BofA Securities |
| 1/8/2024 | $135.00 | Overweight → Neutral | JP Morgan |
| 7/5/2023 | $115.00 | Overweight | JP Morgan |
| 4/19/2023 | Sector Weight | KeyBanc Capital Markets | |
| 11/9/2022 | $97.00 | Equal Weight | Barclays |
| 8/2/2022 | $137.00 → $109.00 | Buy → Neutral | BofA Securities |
| 3/18/2022 | $165.00 → $140.00 | Neutral → Buy | BofA Securities |
| 2/17/2022 | $141.00 → $127.00 | Equal-Weight | Morgan Stanley |
wellteq has appointed Mr Andrew Hvzid as Head of Growth, North America.Based out of Toronto, Canada, Andrew Hvzid will be instrumental in accelerating wellteq's market share within the Corporate Wellness, Insurance and Health Provider sectors of Canada and North America, as well as leveraging the Company's existing distribution partners WTW (NASDAQ:WTW) and Garmin (NASDAQ:GRMN) in these new territories.Mr Hvzid brings over a decade of executive experience in building strategic partnerships, identifying revenue-generating opportunities and optimising resources to propel growth across the health, fitness and education sectors.Digital health is projected to be a USD 295.4 billion industry by 20
SCHAFFHAUSEN, Switzerland, Jan. 15, 2025 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) invites shareholders and investors to listen to its fourth quarter 2024 earnings conference call on Wednesday, February 19, 2025, at 10:30 a.m. EDT, with executives of Garmin. The call will be held in conjunction with the company's earnings release, which will be distributed prior to market open on February 19, 2025. What: Garmin Ltd. Fourth Quarter 2024 Earnings Call When: Wednesday, February 19, 2025, at 10:30 a.m. EDT Where: Join the live webcast at http://www.garmin.com/en-US/company/investors
Company reports record third quarter consolidated revenue and operating income, and raises full year guidance SCHAFFHAUSEN, Switzerland, Oct. 30, 2024 /PRNewswire/ -- Garmin® Ltd. (NYSE:GRMN), today announced results for the third quarter ended September 28, 2024. Highlights for third quarter 2024 include: Consolidated revenue of $1.59 billion, a 24% increase compared to the prior year quarterGross and operating margins expanded to 60.0% and 27.6%, respectivelyOperating income of $437 million, a 62% increase compared to the prior year quarterGAAP EPS of $2.07 and pro forma EPS
Acquisition brings premium LED lighting solutions into Garmin's product portfolio OLATHE, Kan., Oct. 22, 2024 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) today announced it has acquired Lumishore, a privately-held company that designs and manufactures high-performance above and underwater LED lighting systems for boats. "Lumishore brings an exciting new product category that complements Garmin's existing marine portfolio and furthers our ability to provide seamless vessel integration. As a technology leader in LED lighting, Lumishore will expand Garmin's innovative solutions all
SCHAFFHAUSEN, Switzerland, Oct. 2, 2024 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) invites shareholders and investors to listen to its third quarter 2024 earnings conference call on Wednesday, October 30, 2024, at 10:30 a.m. EDT, with executives of Garmin. The call will be held in conjunction with the company's earnings release, which will be distributed prior to market open on October 30, 2024. What: Garmin Ltd. Third Quarter 2024 Earnings Call When: Wednesday, October 30, 2024, at 10:30 a.m. EDT Where: Join the live webcast at http://www.garmin.com/en-US/company/investors/event
Company reports record second quarter revenue and raises full year guidance SCHAFFHAUSEN, Switzerland, July 31, 2024 /PRNewswire/ -- Garmin® Ltd. (NYSE:GRMN), today announced results for the second quarter ended June 29, 2024. Highlights for second quarter 2024 include: Consolidated revenue of $1.51 billion, a 14% increase compared to the prior year quarterGross and operating margins were 57.3% and 22.7%, respectivelyOperating income of $342 million, a 20% increase compared to the prior year quarterGAAP EPS of $1.56 and pro forma EPS(1) of $1.58, representing 9% growth in pro
SCHAFFHAUSEN, Switzerland, June 26, 2024 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) invites shareholders and investors to listen to its second quarter 2024 earnings conference call on Wednesday, July 31, 2024, at 10:30 a.m. EDT, with executives of Garmin. The call will be held in conjunction with the company's earnings release, which will be distributed prior to market open on July 31, 2024. What: Garmin Ltd. Second Quarter 2024 Earnings Call When: Wednesday, July 31, 2024, at 10:30 a.m. EDT Where: Join the live webcast at http://www.garmin.com/en-US/company/investors/events/. An
Company announces record date and payment date for June 2024 dividend installment SCHAFFHAUSEN, Switzerland, June 7, 2024 /PRNewswire/ -- At Garmin Ltd.'s annual shareholders' meeting held today, approval was received from the shareholders in accordance with Swiss corporate law for a cash dividend in the amount of $3.00 per share, payable in four equal installments. The Board has determined that the June installment of the dividend will be paid as indicated below and currently anticipates the scheduling of the remaining quarterly dividend installments as follows: Dividend Paym
Company reports record first quarter revenue and operating income SCHAFFHAUSEN, Switzerland, May 1, 2024 /PRNewswire/ -- Garmin® Ltd. (NYSE:GRMN), today announced results for the first quarter ended March 30, 2024. Highlights for first quarter 2024 include: Consolidated revenue of $1.38 billion, a 20% increase compared to the prior year quarterAchieved record first quarter revenue in four segmentsGross margin and operating margins expanded to 58.1% and 21.6%, respectively, compared to the prior year quarterOperating income of $298 million, a 51% increase compared to the prior
SCHAFFHAUSEN, Switzerland, March 27, 2024 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) invites shareholders and investors to listen to its first quarter 2024 earnings conference call on Wednesday, May 1, 2024, at 10:30 a.m. EDT, with executives of Garmin. The call will be held in conjunction with the company's earnings release, which will be distributed prior to market open on May 1, 2024. What: Garmin Ltd. First Quarter 2024 Earnings Call When: Wednesday, May 1, 2024, at 10:30 a.m. EDT Where: Join the live webcast at http://www.garmin.com/en-US/company/investors/events/. An archiv
Company reports record full year revenue, proposes dividend increase, and announces share repurchase program SCHAFFHAUSEN, Switzerland, Feb. 21, 2024 /PRNewswire/ -- Garmin® Ltd. (NYSE:GRMN), today announced results for the fourth quarter ended December 30, 2023. Highlights for fourth quarter 2023 include: Consolidated revenue of $1.48 billion, a 13% increase compared to the prior year quarterGross margin expanded to 58.3% from 57.0% in the prior year quarterOperating margin was 23.0% compared to 20.5% in the prior year quarterOperating income was $340 million, a 27% increase
Intuitive marine control panel adds an LED-backlit knob and button activation for more precise control in all sea conditions OLATHE, Kan., Jan. 16, 2025 /PRNewswire/ -- Garmin (NYSE:GRMN), the world's most innovative and recognized marine electronics manufacturer, today announced the new APK™ 10 Autopilot Keypad designed to give mariners more precise control of their Reactor™ 40 autopilot. The keypad features an LED-encircled rotary knob that allows for specific heading control, along with two autopilot buttons – engage and standby – and two multipurpose buttons that can be customized to the vessel.
Customers can now record an ECG and check for signs of atrial fibrillation right from their compatible Garmin smartwatch OLATHE, Kan., Jan. 15, 2025 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the ECG App is now available to customers in Australia and the European Union with a compatible Garmin smartwatch, including Venu® 3 Series, fēnix® 8 Series and more1,2. The ECG App allows users to record their heart rhythm and check for signs of atrial fibrillation (AFib) whenever they want. Customers can use the ECG App to record a 30-second ECG and view their heart rhythm results immediately on the watch or, optionally, later in the Garmin Connect™ smartphone app.
SCHAFFHAUSEN, Switzerland, Jan. 15, 2025 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) invites shareholders and investors to listen to its fourth quarter 2024 earnings conference call on Wednesday, February 19, 2025, at 10:30 a.m. EDT, with executives of Garmin. The call will be held in conjunction with the company's earnings release, which will be distributed prior to market open on February 19, 2025. What: Garmin Ltd. Fourth Quarter 2024 Earnings Call When: Wednesday, February 19, 2025, at 10:30 a.m. EDT Where: Join the live webcast at http://www.garmin.com/en-US/company/investors
Next-gen touchscreen navigators feature a durable design, preloaded worldwide maps and versatility to fit nearly any vehicle OLATHE, Kan., Jan. 8, 2025 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced a new Montana® series – the Montana 710, Montana 710i and robust Montana 760i – to its collection of handheld GPS navigators. All three handhelds feature durable, easy-to-view, 5-inch color touchscreen displays that are glove-friendly. These versatile devices are ideal for use during a variety of outdoor activities, including hiking, mountain biking, off-road riding and more. They're also compatible with multiple mounting options (sold separately) to adapt for use on ATVs, boats, cars, motorc
Boldly designed for an active lifestyle, the newest smartwatches offer bright AMOLED or solar-charged displays, a metal-reinforced bezel and built-in LED flashlights on all models OLATHE, Kan., Jan. 6, 2025 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the Instinct® 3 Series, its newest lineup of rugged smartwatches, now offered with a brilliant AMOLED or solar-powered display for maximum battery life. Designed with adventurers in mind, Instinct 3 Series adds a metal-reinforced bezel for extreme durability and a built-in flashlight on every model. And with incredible battery life, it's easy to explore more; the AMOLED models get up to 24 days on a single charge in smartwatch mode while
Innovative motorcycle radar system heightens situational awareness with external lights to help foster a safer riding environment OLATHE, Kan., Jan. 6, 2025 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the trailblazing zūmo™ R1 Radar, its first purpose-built radar system for motorcycles. Sleek and discreet, the robust system provides riders with high-performance rearview and blind spot monitoring. The device features two side-facing amber lights and an optional rear-facing red light that can help maximize visibility to nearby vehicles, while indicator lights on the handlebars provide riders with awareness of approaching vehicles.
Award-winning digital cockpit solution integrates new Generative AI theming, child presence detection, and zoned audio and video features—all from a single Garmin control module OLATHE, Kan., Jan. 6, 2025 /PRNewswire/ -- Garmin (NYSE:GRMN) is unveiling its latest automotive infotainment and electronics solution for global automakers, Unified Cabin™ 2025, at the Consumer Electronics Show (CES®) in Las Vegas this week. Selected as a CES 2025 Innovation Award Honoree, the latest iteration of Unified Cabin delivers a complete digital cockpit experience to four seating positions and adds a new ultra-wide front display, bringing the total screen count to six.
Highlights: New Garmin Unified Cabin 2025 features the high-performing Snapdragon Cockpit Elite platform for premium, AI-accelerated in-vehicle experiences.Development of scalable digital cockpit solution with centralized domain controller capabilities builds upon long-standing strategic relationship.Garmin Unified Cabin 2025 on display at the Garmin booth at CES.LAS VEGAS, Jan. 6, 2025 /PRNewswire/ -- Garmin and Qualcomm Technologies, Inc. today at CES 2025 announced the expansion of their automotive technology collaboration with the new Garmin Unified Cabin™ 2025, a next-generation digital cockpit solution featuring scalable domain controller capabilities from a single Garmin control modul
Next-generation domain controller offers full-cabin electronics from a single Garmin control module OLATHE, Kan., Nov. 21, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced that its Unified Cabin™ domain controller solution has been recognized as a Consumer Electronics Show (CES®) 2025 Innovation Award Honoree in the in-vehicle entertainment category. First revealed at CES 2023, Garmin Unified Cabin is a scalable portfolio of automotive OEM technologies and design innovations that allow automakers to provide a personalized infotainment experience. With immersive theming and AI-driven customization, Unified Cabin remembers each passenger's preferences and picks up movies and videos whe
For 67 years, Aviation Week Network's annual Laureate Awards have recognized extraordinary innovations and achievements in the aviation industry OLATHE, Kan., Nov. 20, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced that its Runway Occupancy Awareness (ROA) technology received a Laureate Award in the Business Aviation category from Aviation Week Network. Utilizing the Surface Indications and Alert (SURF-IA) technology and ADS-B traffic monitoring, ROA is the first certified solution designed to help pilots navigate complex airports and avoid potential runway incursions caused by nearby airborne aircraft, aircraft on the ground and ground vehicles. This year's Laureate Awards Ceremony
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Morgan Stanley downgraded Garmin from Equal-Weight to Underweight and set a new price target of $138.00 from $155.00 previously
Barclays downgraded Garmin from Equal Weight to Underweight and set a new price target of $133.00 from $181.00 previously
BofA Securities downgraded Garmin from Neutral to Underperform and set a new price target of $150.00 from $165.00 previously
JP Morgan downgraded Garmin from Overweight to Neutral and set a new price target of $135.00
JP Morgan resumed coverage of Garmin with a rating of Overweight and set a new price target of $115.00
KeyBanc Capital Markets initiated coverage of Garmin with a rating of Sector Weight
Barclays initiated coverage of Garmin with a rating of Equal Weight and set a new price target of $97.00
BofA Securities downgraded Garmin from Buy to Neutral and set a new price target of $109.00 from $137.00 previously
BofA Securities upgraded Garmin from Neutral to Buy and set a new price target of $140.00 from $165.00 previously
Morgan Stanley reiterated coverage of Garmin with a rating of Equal-Weight and set a new price target of $127.00 from $141.00 previously