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Garmin (GRMN)

Company Profile
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.
Garmin logo

Company profile

Ticker
GRMN
Exchange
NYSE
Website
www.garmin.com
CEO
Clifton Pemble
Employees
Incorporated
Switzerland
Location
Switzerland
Fiscal year end
Dec 31
Sector
Manufacturing > Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing
Industry (SIC)
Search, Detection, Navigation, Guidance, Aeronautical Sys
Northrop Grumman • L3Harris • Leonardo DRS • Teledyne • Teledyne FLIR • Inflection Point Acquisition • Virgin Orbit • MIND Technology • NextNav • Coda Octopus ...
SEC CIK
0001121788
Corporate docs
Articles of Incorporation & Bylaws
Underwriting Agreements
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists
Subsidiaries
AeroData, Inc. • Navionics Inc. • Vesper Marine, Inc. • Garmin International, Inc. • Garmin North America, Inc. • Garmin USA, Inc. • Garmin Realty, LLC • Garmin Insurance Services, LLC • Garmin Services, Inc. • AeroNavData, Inc. ...
IRS number
980229227

GRMN stock data

Analyst ratings and price targets

Last 3 months
Barclays
Initiated
Equal-Weight
$97.00
9 Nov 22
Latest filings (excl ownership)
View all
8-K
Garmin announces third quarter 2022 results
26 Oct 22
10-Q
2022 Q3
Quarterly report
26 Oct 22
8-K
Garmin announces second quarter 2022 results
27 Jul 22
10-Q
2022 Q2
Quarterly report
27 Jul 22
8-K
Garmin shareholders approve quarterly dividend through March 2023
13 Jun 22
SD
Conflict minerals disclosure
27 May 22
8-K/A
Garmin announces first quarter 2022 results
27 Apr 22
DEFA14A
Additional proxy soliciting materials
27 Apr 22
8-K
Garmin announces first quarter 2022 results
27 Apr 22
10-Q
2022 Q1
Quarterly report
27 Apr 22
Transcripts
View all
GRMN
Earnings call transcript
2022 Q3
26 Oct 22
GRMN
Earnings call transcript
2022 Q2
27 Jul 22
GRMN
Earnings call transcript
2022 Q1
27 Apr 22
GRMN
Earnings call transcript
2021 Q4
16 Feb 22
GRMN
Earnings call transcript
2021 Q3
27 Oct 21
GRMN
Earnings call transcript
2021 Q2
28 Jul 21
GRMN
Earnings call transcript
2021 Q1
28 Apr 21
GRMN
Earnings call transcript
2020 Q4
17 Feb 21
GRMN
Earnings call transcript
2020 Q3
28 Oct 20
GRMN
Earnings call transcript
2020 Q2
29 Jul 20
Latest ownership filings
View all
SC 13G/A
BlackRock Inc.
31 Jan 23
4
MIN H KAO
26 Jan 23
4
JONATHAN BURRELL
3 Jan 23
SC 13G
BURRELL JONATHAN
3 Jan 23
4
Philip Straub
19 Dec 22
4
Douglas G. Boessen
19 Dec 22
4
CLIFTON A PEMBLE
19 Dec 22
4
Patrick Desbois
19 Dec 22
4
Sean Biddlecombe
19 Dec 22
4
Danny J Bartel
19 Dec 22

Financial summary

Financial statements Chart GRMN financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.08 bn 1.08 bn 1.08 bn 1.08 bn 1.08 bn 1.08 bn
Cash burn (monthly) 1.69 mm 46.40 mm (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 7.32 mm 200.57 mm n/a n/a n/a n/a
Cash remaining 1.08 bn 882.48 mm n/a n/a n/a n/a
Runway (months of cash) 635.0 19.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial data from Garmin earnings reports.

Institutional ownership, Q3 2022

GRMN institutional ownership history Ownership history
49.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 577 634 -9.0%
Opened positions 54 78 -30.8%
Closed positions 111 86 +29.1%
Increased positions 256 246 +4.1%
Reduced positions 185 214 -13.6%
13F shares Current Prev Q Change
Total value 7.65 bn 9.83 bn -22.2%
Total shares 95.18 mm 100.00 mm -4.8%
Total puts 590.40 k 486.80 k +21.3%
Total calls 462.01 k 514.31 k -10.2%
Total put/call ratio 1.3 0.9 +35.0%
Largest owners Shares Value Change
Vanguard 17.79 mm $1.43 bn +0.7%
BLK Blackrock 14.46 mm $1.16 bn +1.6%
Artisan Partners Limited Partnership 6.92 mm $555.96 mm +7.7%
Geode Capital Management 3.30 mm $264.88 mm +8.1%
First Trust Advisors 2.50 mm $200.90 mm +213.1%
Boston Partners 2.12 mm $170.53 mm +20.4%
Pictet Asset Management 1.91 mm $153.68 mm -16.9%
JPM JPMorgan Chase & Co. 1.75 mm $140.73 mm -19.4%
NTRS Northern Trust 1.62 mm $130.20 mm +1.3%
Disciplined Growth Investors 1.52 mm $122.04 mm +6.9%
Largest transactions Shares Bought/sold Change
STT State Street 0.00 -6.44 mm EXIT
First Trust Advisors 2.50 mm +1.70 mm +213.1%
JHG Janus Henderson 787.15 k -1.21 mm -60.7%
Select Equity 640.65 k +638.32 k +27454.8%
Artisan Partners Limited Partnership 6.92 mm +492.58 k +7.7%
GS Goldman Sachs 864.61 k -489.35 k -36.1%
Intech Investment Management 18.74 k -474.08 k -96.2%
Deutsche Bank AG - Registered Shares 712.89 k -437.98 k -38.1%
JPM JPMorgan Chase & Co. 1.75 mm -420.53 k -19.4%
Pictet Asset Management 1.91 mm -388.99 k -16.9%
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

GRMN insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Jan 23 Min H Kao Registered Shares Gift Dispose G Yes No 0 25,000 0.00 12,177,539
24 Jan 23 Min H Kao Registered Shares Gift Dispose G Yes No 0 25,000 0.00 12,202,539
24 Jan 23 Min H Kao Registered Shares Gift Dispose G Yes No 0 25,000 0.00 6,354,753
24 Jan 23 Min H Kao Registered Shares Gift Dispose G Yes No 0 5,000 0.00 6,379,753
15 Dec 22 Cheng-Wei Wang Registered Shares Grant Acquire A No No 0 2,865 0.00 49,385
15 Dec 22 Andrew R Etkind Registered Shares Grant Acquire A No No 0 4,011 0.00 70,795
15 Dec 22 Andrew R Etkind Registered Shares Payment of exercise Dispose F No No 92.72 915 84.84 k 66,784
15 Dec 22 Matthew Munn Registered Shares Grant Acquire A No No 0 3,723 0.00 14,483
15 Dec 22 Matthew Munn Registered Shares Payment of exercise Dispose F No No 92.72 580 53.78 k 10,760
15 Dec 22 Matthew Munn Registered Shares Sell Dispose S No No 92.96 1,797 167.05 k 11,340
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro
Garmin Updates Fusion-Branded Apollo Series, Announces Apollo WB675 Marine Hideaway Stereo
31 Jan 23
"Our latest hideaway stereo provides customers even more flexibility and provides the very best on-board audio entertainment possible," said Dan Bartel, Garmin vice president of global consumer sales. "We
Qualcomm Satellite Messaging Partnership Likely To Trigger Iridium's Revenue Stream, Analyst Says
6 Jan 23
Qualcomm Inc (NASDAQ: QCOM) has been the previously unnamed partner in Iridium Communications Inc's (NASDAQ: IRDM) smartphone Technology Development Agreement and Service Provider Agreement.
Qualcomm Launching Snapdragon Satellite: What Investors Should Know About New Product
5 Jan 23
Leading technology company Qualcomm Inc (NASDAQ: QCOM) announced the launch of a new product at CES 2023 Thursday. Here are the details on Snapdragon Satellite.
Benzinga's Top Ratings Upgrades, Downgrades For November 9, 2022
9 Nov 22
Barclays Initiates Coverage On Garmin with Equal-Weight Rating, Announces Price Target of $97
9 Nov 22

Press releases

From Benzinga Pro
Get a perfect look around the clock with vívomove Trend from Garmin
1 Feb 23
Stylish hybrid smartwatch blends a classic analog design with essential health, fitness and smart features OLATHE, Kan., Feb. 1, 2023 /PRNewswire/ -- Garmin (NYSE:GRMN) today announced vívomove® Trend, a hybrid
Garmin releases 4-zone compact stereo for boat lovers who value a premium audio experience and dash space
31 Jan 23
New Fusion stereo offers additional audio zone, hideaway design and high-fidelity audio streaming OLATHE, Kan., Jan. 31, 2023 /PRNewswire/ -- Garmin (NYSE:GRMN), the world's most innovative and recognized marine
Understand your body better with the new ECG App from Garmin
24 Jan 23
FDA-cleared and clinically-validated app lets Venu 2 Plus customers record an ECG and check for signs of atrial fibrillation right from their smartwatch OLATHE, Kan., Jan. 24, 2023 /PRNewswire/ -- Garmin (NYSE:GRMN)
Garmin Ltd. schedules fourth quarter 2022 earnings call
23 Jan 23
Garmin expands popular ECHOMAP UHD2 chartplotter series with new features and touchscreen design to help take your fishing to the next level
11 Jan 23
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