Garmin Ltd. (GRMN) Insider Sells $23,169,583.36 in Stock
Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 370,832 shares of the firm’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $62.48, for a total transaction of $23,169,583.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Garmin traded down $1.02, reaching $62.28, during midday trading on Wednesday, according to MarketBeat. 998,001 shares of the stock were exchanged, compared to its average volume of 1,016,328. The company has a market capitalization of $11.76 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.38 and a beta of 1.02. Garmin Ltd. has a twelve month low of $49.80 and a twelve month high of $65.96.
Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $670.71 million. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. equities research analysts forecast that Garmin Ltd. will post 3.14 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on GRMN. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. BidaskClub upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Wednesday, May 30th. Finally, Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Garmin currently has a consensus rating of “Hold” and an average price target of $60.40.
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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