Fintel reports that on August 3, 2023, Morgan Stanley maintained coverage of Garmin (NASDAQ:GRMN) with a Equal-Weight recommendation.

Analyst Price Forecast Suggests 0.99% Upside

As of August 1, 2023, the average one-year price target for Garmin is 108.80. The forecasts range from a low of 105.04 to a high of $115.50. The average price target represents an increase of 0.99% from its latest reported closing price of 107.73.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Garmin is 5,278MM, an increase of 7.39%. The projected annual non-GAAP EPS is 5.47.

• For more in-depth coverage of Garmin, view the free, crowd-sourced company research report on Finpedia.

What is the Fund Sentiment?

There are 1257 funds or institutions reporting positions in Garmin. This is an increase of 11 owner(s) or 0.88% in the last quarter. Average portfolio weight of all funds dedicated to GRMN is 0.19%, an increase of 9.85%. Total shares owned by institutions decreased in the last three months by 0.35% to 114,809K shares. The put/call ratio of GRMN is 0.86, indicating a bullish outlook.

What are Other Shareholders Doing?

Artisan Partners Limited Partnership holds 6,944K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 6,734K shares, representing an increase of 3.02%. The firm increased its portfolio allocation in GRMN by 4.89% over the last quarter.

ARTKX - Artisan International Value Fund Investor Shares holds 5,325K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 5,092K shares, representing an increase of 4.37%. The firm decreased its portfolio allocation in GRMN by 1.62% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,738K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 4,659K shares, representing an increase of 1.66%. The firm increased its portfolio allocation in GRMN by 2.68% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 3,579K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 3,544K shares, representing an increase of 0.97%. The firm increased its portfolio allocation in GRMN by 2.40% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,576K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 3,565K shares, representing an increase of 0.29%. The firm increased its portfolio allocation in GRMN by 6.16% over the last quarter.

Garmin Background Information
(This description is provided by the company.)

Garmin, formerly known as ProNav, is an American multinational technology company founded in 1989, with headquarters in Olathe, Kansas. The company specializes in GPS technology for automotive, aviation, marine, outdoor, and sport activities. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd.

Additional reading:

• GARMIN LTD. 2005 Equity Incentive Plan as amended and restated on June 9, 2023
• Garmin announces second quarter 2023 results Returned to consolidated sales growth
• GARMIN LTD. EMPLOYEE STOCK PURCHASE PLAN (as Amended and Restated on June 9, 2023) I. Purpose and Effective Date
• Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan as amended and restated on June 9, 2023 GARMIN LTD. 2011 Non-Employee Directors’ Equity Incentive Plan
• Articles of Association