Garmin Ltd. (GRMN) Shares Bought by Calamos Advisors LLC

Calamos Advisors LLC increased its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 3.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,020 shares of the scientific and technical instruments company’s stock after buying an additional 1,898 shares during the period. Calamos Advisors LLC’s holdings in Garmin were worth $2,969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GRMN. BlackRock Inc. boosted its position in Garmin by 3.7% during the second quarter. BlackRock Inc. now owns 11,293,625 shares of the scientific and technical instruments company’s stock worth $576,315,000 after purchasing an additional 404,430 shares during the period. Vanguard Group Inc. boosted its position in Garmin by 0.6% during the second quarter. Vanguard Group Inc. now owns 10,473,447 shares of the scientific and technical instruments company’s stock worth $534,459,000 after purchasing an additional 59,138 shares during the period. Bank of New York Mellon Corp boosted its position in Garmin by 117.9% during the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock worth $113,730,000 after purchasing an additional 1,205,778 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in Garmin by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,634,576 shares of the scientific and technical instruments company’s stock worth $83,412,000 after purchasing an additional 8,210 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Garmin by 8.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,619,167 shares of the scientific and technical instruments company’s stock worth $87,385,000 after purchasing an additional 123,324 shares during the period. Institutional investors and hedge funds own 39.86% of the company’s stock.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The firm had revenue of $743.00 million during the quarter, compared to analyst estimates of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS.

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A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Thursday. Morgan Stanley increased their target price on shares of Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday. KeyCorp reiterated a “hold” rating on shares of Garmin in a research report on Wednesday. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research report on Tuesday, August 8th. Finally, BidaskClub lowered shares of Garmin from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $56.33.

In related news, EVP Patrick Desbois sold 1,881 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $55.00, for a total value of $103,455.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jonathan Burrell sold 232,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $51.36, for a total transaction of $11,915,520.00. The disclosure for this sale can be found here. Insiders sold a total of 982,433 shares of company stock valued at $50,856,032 over the last three months. 18.30% of the stock is currently owned by insiders.

Garmin Company Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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