Garmin Ltd. (NYSE:GRMN) continues an upward trajectory, with its stock hitting the all-time high of
$216.68. Their Q3 2024 reports reveal impressive financial achievements including
record revenues and
46% EPS beat. Notable commendation was received in the form of the
2025 CES Innovation Award for the Garmin Unified Cabin automotive OEM solution. The company also witnessed growth in institutional ownership;
Verition Fund Management LLC,
Zürcher Kantonalbank, and
Jacobs Levy Equity Management Inc. among others, have increased their stakes. Evidently, institutional investors dominate the company with
56-58% ownership. Goldman Sachs also acknowledges GRMN as a top growth investor stock. However, certain shareholders such as
British Columbia Investment Management Corp and
Bridgewater Associates LP have reduced their positions. The stock also saw temporary underperformance on certain trading days. Garmin announced the acquisition of
Lumishore, a leader in marine LED lighting, which adds to their innovative portfolio following their
Marine Company award win for the second consecutive year. Despite these achievements, Garmin's valuation is considered overpriced by some analysts.
Garmin Ltd GRMN News Analytics from Wed, 01 May 2024 07:00:00 GMT to Sat, 07 Dec 2024 12:32:04 GMT -
Rating 8
- Innovation 9
- Information 7
- Rumor -2
