Nomura Asset Management Co. Ltd. Buys 2,261 Shares of Garmin Ltd. $GRMN

Nomura Asset Management Co. Ltd. increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,102 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,261 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Garmin were worth $11,380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MUFG Securities EMEA plc boosted its stake in Garmin by 6,790.6% in the fourth quarter. MUFG Securities EMEA plc now owns 215,815 shares of the scientific and technical instruments company’s stock valued at $43,778,000 after acquiring an additional 212,683 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Garmin by 40.0% in the fourth quarter. BNP Paribas Financial Markets now owns 298,186 shares of the scientific and technical instruments company’s stock valued at $60,487,000 after acquiring an additional 85,259 shares during the last quarter. Norges Bank bought a new position in Garmin in the fourth quarter valued at approximately $395,234,000. Eurizon SLJ Capital Ltd bought a new position in Garmin in the fourth quarter valued at approximately $1,713,000. Finally, Hillsdale Investment Management Inc. bought a new position in Garmin in the fourth quarter valued at approximately $933,000. 81.60% of the stock is owned by institutional investors.

Garmin Stock Performance

GRMN opened at $240.84 on Wednesday. The firm’s fifty day moving average is $244.60 and its two-hundred day moving average is $224.15. The firm has a market cap of $46.45 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays reduced their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Morgan Stanley set a $249.00 target price on shares of Garmin in a report on Thursday, April 30th. Finally, Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.40.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.