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 |
---|---|---|---|
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 |
1/5/2022 | $148.00 → $160.00 | Hold → Buy | Deutsche Bank |
10/28/2021 | $147.00 → $141.00 | Equal-Weight | Morgan Stanley |
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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
https://x.com/CitronResearch/status/1801256950186836272
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
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
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High-definition cameras built for Garmin chartplotters can provide distance markers and guidance lines to enhance situational awareness when docking in tight quarters OLATHE, Kan., Sept. 10, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN), the world's most innovative and recognized marine electronics manufacturer, today announced the GC™ 245 and GC 255 marine cameras that are purpose-built to enhance proximity awareness and confidence at the dock. Featuring on-screen distance markers1 and guidance lines, these cameras can help provide peace of mind during low-speed maneuvers, such as docking in close quarters, with enhanced visibility from the helm. Both 1080p (full HD)2 cameras deliver multiple vie
Premium, voice-controlled dash cameras offer up to 4K Ultra HD video quality and an all-new polarizer lens for outstanding clarity day and night OLATHE, Kan., Sept. 5, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today unveiled the Garmin Dash Cam™ X series of high-quality dash cameras that provide motorists with a discreet eyewitness anywhere they drive1. There are four models – the Garmin Dash Cam Mini 3, X110, X210 and ultra-sharp X310 – that go virtually unnoticed thanks to their compact size, yet still deliver crisp video resolution up to 4K Ultra HD to provide proof of any unexpected road incidents.
Ultimate performance smartwatches offer brilliant AMOLED displays plus cutting-edge features and a built-in speaker, mic and LED flashlight OLATHE, Kan., Aug. 27, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the fēnix® 8 Series, its next-gen premium multisport GPS smartwatches that offer either a bright AMOLED display or solar charging display for even greater battery life. Introducing advanced strength training features, dive capabilities, an internal speaker and mic and more, fēnix 8 Series is designed for anyone who wants to push beyond their limits. And with incredible battery life, it's easy to explore more; the 51mm AMOLED model offers up to 29 days of battery life in smartw
Purpose-built for ultra-endurance athletes, Enduro 3 is loaded with premium training, performance and navigation features—all in a lighter design with longer battery life OLATHE, Kan., Aug. 27, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced Enduro™ 3, its next-gen ultraperformance GPS smartwatch that is lighter than ever and can last for longer than the previous model thanks to a solar charging display. Built for the longest races, Enduro 3 weighs just 63 grams and features up to 320 hours in GPS mode with solar charging1—all with an always-on display. And with premium training and navigation tools, like dynamic round-trip routing, trail run VO2 max insights, grade-adjusted pace and
Garmin Response extends emergency response coordination services to Pixel 9 series OLATHE, Kan., Aug. 14, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the integration of its satellite SOS emergency response coordination service into Google's Android smartphone ecosystem, beginning with the latest Pixel 9 smartphones in the U.S. Under the agreement, Pixel users in the U.S. may be able to connect with Garmin ResponseSM emergency response coordination services when cellular and Wi-Fi coverage is not available using Pixel's Satellite SOS feature1. The integration opens future opportunities for Garmin Response to provide its world-renowned services across additional Android devices.
Runway Occupancy Awareness, or ROA, provides enhanced situational awareness in the busy airport environment OLATHE, Kan., Aug. 14, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the certification of Runway Occupancy Awareness (ROA), marking the first certified software solution utilizing the Surface Indications and Alert (SURF-IA) technology. ROA uses ADS-B traffic to alert the crew of potential runway incursions caused by nearby airborne aircraft, aircraft on the ground and ground vehicles. The initial FAA certification was received by Textron Aviation on the G1000® NXi-equipped Cessna Caravan.
Premium, purpose-built trucking headsets offer Active Noise Cancellation, a built-in LED flashlight and up to 60 hours of continuous talk time OLATHE, Kan., Aug. 13, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the new dēzl™ Headset 110 and dēzl Headset 210, high-performance wireless trucking headsets that provide a superior audio experience and all-day comfort for long-haul drivers. Available in single-ear or two-in-one convertible options, the headsets introduce a dual-color LED flashlight for hands-free convenience inside and outside the truck cab. The series also boasts enhanced Active Noise Cancellation (ANC) in the earcups and boom mic, allowing drivers to experience crystal
High-resolution GPS truck navigators include satellite imagery for expert arrival planning and new community-based guidance to keep drivers informed on their routes OLATHE, Kan., Aug. 13, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced the next-gen dēzl™ OTR series, its latest lineup of GPS trucking navigators. Delivering Garmin's trusted trucking navigation, the new series is the first to integrate with the dēzl community1, providing insights and ratings from thousands of fellow drivers to help users find best-rated parking spots and navigate to trucker-preferred destinations including loading docks and security gates.
The latest apps are available to purchase in the Connect IQ marketplace using Garmin Pay OLATHE, Kan., Aug. 6, 2024 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced that customers can now make purchases in the Connect IQ™ Store using Garmin Pay™. This seamless integration rewards developers for their innovative designs while also providing Garmin customers with access to premium watch faces and apps from brands like Disney, GoPro®, Porsche and TaylorMade—with even more options to come. "For years, our customers have turned to the Connect IQ Store for fun and informative wat
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
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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
SCHAFFHAUSEN, Switzerland, Oct. 4, 2023 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN) invites shareholders and investors to listen to its third quarter 2023 earnings conference call on Wednesday, November 1, 2023 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 November 1, 2023. What: Garmin Ltd. Third Quarter 2023 Earnings Call When: Wednesday, November 1, 2023 at 10:30 a.m. EDT Where: Join the live webcast at http://www.garmin.com/en-US/company/investors/events/
JL Audio technology will be integrated into Garmin's marine segment OLATHE, Kan., Sept. 20, 2023 /PRNewswire/ -- Garmin Ltd. (NYSE:GRMN), today announced it has completed the acquisition of JL Audio, a privately-held U.S. company that designs and manufactures audio solutions, including speakers, amplifiers, subwoofers and other audio components for marine, aftermarket automotive, powersports, home and RV customers. "We are thrilled to welcome JL Audio to the Garmin team. JL Audio has a strong reputation for providing premium audio quality, and we are excited to integrate thes
Returned to consolidated sales growth SCHAFFHAUSEN, Switzerland, Aug. 2, 2023 /PRNewswire/ -- Garmin® Ltd. (NYSE:GRMN), today announced results for the second quarter ended July 1, 2023. Highlights for second quarter 2023 include: Consolidated revenue of $1.32 billion, a 6% increase compared to the prior year quarterGross margin and operating margin were 57.5%, and 21.5%Operating income was $284 million, a 3% decrease compared to the prior year quarterGAAP EPS was $1.50 and pro forma EPS(1) was $1.45, representing 1% growth in pro forma EPS over the prior year quarterLaunched
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
Deutsche Bank upgraded Garmin from Hold to Buy and set a new price target of $160.00 from $148.00 previously
Morgan Stanley reiterated coverage of Garmin with a rating of Equal-Weight and set a new price target of $141.00 from $147.00 previously