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 |
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
SCHAFFHAUSEN, Switzerland, Jan. 17, 2024 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) invites shareholders and investors to listen to its fourth quarter 2023 earnings conference call on Wednesday, February 21, 2024, at 10:30 a.m. EST, 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 21, 2024. What: Garmin Ltd. Fourth Quarter 2023 Earnings Call When: Wednesday, February 21, 2024, at 10:30 a.m. EST Where: Join the live webcast at http://www.garmin.com/en-US/company/investors
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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
Trailblazing satellite communicator brings home prestigious honor ahead of CES 2025, the world's most influential consumer technology event OLATHE, Kan., Nov. 20, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced that its inReach® Messenger Plus SOS satellite communicator was named a 2025 Consumer Electronics Show (CES®) Best of Innovation winner in the Mobile Devices, Accessories & Apps category. The annual awards program, owned and produced by the Consumer Technology Association, honors outstanding design and engineering in consumer technology products. Of the more than 3400 submissions into this year's program, less than 1% received the coveted Best of Innovation designation.
Wrist-based dive computer features a vibrant 3" color touchscreen display, backup dive light, air integration, diver-to-diver messaging and more OLATHE, Kan., Nov. 19, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced Descent™ X50i, its largest dive computer with a vivid 3" color touchscreen display1. Using SubWave™ sonar technology, divers can use Descent X50i to communicate with one another underwater and monitor each other's tank pressure, depth and distance to keep tabs on one another when visibility may be limited2. And they can explore greater depths with an integrated backup dive light, 20 ATM dive rating and leakproof metal buttons.
Pavilion outdoor speaker series honored with a Product Innovation Award from Home Technology Specialists of America OLATHE, Kan., Nov. 13, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) is proud to announce that JL Audio®, a Garmin brand, received an Innovation Award for its Pavilion™ line of outdoor home speakers from Home Technology Specialists of America, Inc. (HTSA), a leading consumer electronics trade group. The award was presented at HTSA's 2024 Fall Conference and recognizes products that offer exceptional performance and quality in home technology. "This award reaffirms our
New launch monitor with color touchscreen and three high-speed cameras offers more accurate club and ball measurements so golfers can tee up for a full round, rain or shine OLATHE, Kan., Nov. 12, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the all-new Approach® R50 premium launch monitor and golf simulator, allowing golfers the luxury of teeing it up 365 days a year on their home setup or at any driving range. The Approach R50 features a 10" built-in, color touchscreen display and more than 43,000 preloaded golf courses worldwide with an improved version of Home Tee Hero1. Utilizing three different cameras, the launch monitor can track more than 15 ball and club metrics2, includi
Powerful off-road device handles all terrains, boasts a high-resolution display and advanced navigation tools to help you explore with confidence OLATHE, Kan., Nov. 5, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the rugged Tread® 2 off-road navigator that guides adventures on dirt, snow and everything in between. Purpose-built for snowmobile, side-by-side, ATV, UTV and motorcycle enthusiasts, the next-gen Tread 2 features an ultrabright 6-inch touchscreen display, turn-by-turn navigation, topographic maps and more to enhance any journey. Additionally, Garmin announced the new Handlebar Controller (sold separately) that offers riders more convenient navigator control from their ha
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
G3000 PRIME is the most connected, customizable, automated and safety-enhancing Garmin flight deck yet OLATHE, Kan., Oct. 16, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today introduced G3000® PRIME, its most advanced integrated flight deck yet. Setting a new standard in integrated avionics, Garmin's G3000 PRIME redefines the flight deck experience with sleek, intuitive, all-touchscreen displays and a highly flexible open system architecture that seamlessly adapts to serve a broad and dynamic market. With a state-of-the-art user interface design and advanced connectivity, G3000 PRIME leverages cutting-edge technologies that can enhance safety potential and efficiency while minimizing pilot work
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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
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
https://www.apple.com/newsroom/2024/07/apple-maps-on-the-web-launches-in-beta/
Garmin Ltd. (NYSE:GRMN) shares are trading higher on Wednesday. Garmin has announced a partnership with Arctic Cat Inc., a Textron Inc. (NYSE:TXT) subsidiary renowned in snowmobiles and powersports, to integrate the Arctic Cat G8 display powered by Garmin into select 2025 snowmobile models. Garmin and Arctic Cat continue their collaboration with the Arctic Cat G8, marking their latest joint effort in display technology for snowmobiles and off-road vehicles, extending their partnership from install kits introduced as early as 2021. According to Benzinga Pro, GRMN stock has gained over 64% in the past year. Investors can gain exposure to the stock via Global X Internet Of Things ETF (
Garmin (NYSE:GRMN) today announced a collaboration with Arctic Cat® Inc., a Textron Inc. company and one of the most respected names in snowmobiles and powersports, to equip select 2025 snowmobile models with the Arctic Cat G8 display powered by Garmin. Using Garmin Tread® GPS technology, the Arctic Cat G8 is an innovative, all-in-one solution that combines cutting-edge navigation with advanced vehicle performance information as well as a Group Ride Radio feature to stay in touch with fellow snowmobilers.
Garmin (NYSE:GRMN), the world's most innovative and recognized marine electronics manufacturer, today announced it was selected as the exclusive marine electronics and audio supplier for Independent Boat Builders, Inc. (IBBI), the industry's largest purchasing cooperative. Beginning model year 2025, this agreement gives IBBI member-owners direct access to Garmin's full line of marine electronics and audio solutions, including JL Audio®, Fusion® and Clarion Marine, through 2029. Comprised of a 15-owner network of leading boat brands, IBBI members collectively build more than 25% of all boats sold in the U.S. "We are so pleased to extend and strengthen our long-standing relationship with th
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https://x.com/CitronResearch/status/1800551358879117715$GRMN Negative. While the street is buzzing about $AAPL's new AI integration, the real loser from their developer conference seems to be $GRMN. Despite $GRMN trading at historically high multiples, its core fitness products just took a hit. With the new Apple Watch OS11 making Apple Watch the top fitness accessory, including satellite messaging, training load features, and comprehensive vitals tracking, Garmin's fitness products have become less relevant. Credit to Garmin for evolving from personal navigation devices to its current state, but it shouldn't be trading at historically high multiples as its fast-growing fitness segment just
Garmin Ltd. (NYSE:GRMN) shares are trading lower after BofA Securities analyst Ronald J. Epstein downgraded the stock to Underperform from Neutral and cut the price target from $165 to $150. The analyst writes that in the first quarter, Garmin demonstrated the strength of its brand and the resiliency of its customers and witnessed growth across segments. However, the analyst worries that the momentum is decelerating, implying that the current valuation is unsustainable. Epstein says that the company’s AutoOEM segment continues to ramp production and remains on track to hit the $800 million revenue target in 2025. The analyst expects the segment to reach breakeven in 4Q24 and sees
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Stifel boosted the price target for Curtiss-Wright Corporation (NYSE:CW) from $293 to $310. Stifel analyst Nathan Jones maintained a Buy rating. Curtiss-Wright shares gained 2.1% to close at $285.21 on Tuesday. See how other analysts view this stock. Baird cut the price target for Nordson Corporation (NASDAQ:NDSN) from $303 to $272. Baird analyst Michael Halloran maintained an Outperform rating. Nordson shares dipped 9.4% to close at $243.14 on Tuesday. See how other analysts view this stock. HC
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