Garmin Ltd. Can’t Be More Safe. Option Traders Like It

 Garmin Ltd. Can't Be More Safe. Option Traders Like It

In today’s session Garmin Ltd. (GRMN) registered an unusually high (281) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious GRMN increase. With 281 contracts traded and 9874 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: GRMN161021C00050000 closed last at: $0.36 or 2.7% down. About 160,990 shares traded hands. Garmin Ltd. (NASDAQ:GRMN) has risen 17.18% since March 2, 2016 and is uptrending. It has outperformed by 8.92% the S&P500.

Analysts await Garmin Ltd. (NASDAQ:GRMN) to report earnings on October, 26. They expect $0.53 EPS, up 3.92% or $0.02 from last year’s $0.51 per share. GRMN’s profit will be $99.48M for 22.84 P/E if the $0.53 EPS becomes a reality. After $0.87 actual EPS reported by Garmin Ltd. for the previous quarter, Wall Street now forecasts -39.08% negative EPS growth.

Garmin Ltd. (NASDAQ:GRMN) Ratings Coverage

Out of 12 analysts covering Garmin Ltd. (NASDAQ:GRMN), 1 rate it a “Buy”, 4 “Sell”, while 7 “Hold”. This means 8% are positive. $50 is the highest target while $12 is the lowest. The $35.75 average target is -26.18% below today’s ($48.43) stock price. Garmin Ltd. has been the topic of 22 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, October 15. The stock of Garmin Ltd. (NASDAQ:GRMN) earned “Neutral” rating by Dougherty & Company on Thursday, October 15. Credit Suisse maintained Garmin Ltd. (NASDAQ:GRMN) rating on Thursday, February 18. Credit Suisse has “Underperform” rating and $36 price target. The firm has “Underperform” rating by Credit Suisse given on Monday, January 18. The firm has “Underperform” rating given on Friday, January 15 by Credit Suisse. The rating was upgraded by Raymond James on Tuesday, August 25 to “Mkt Perform”. JP Morgan downgraded Garmin Ltd. (NASDAQ:GRMN) on Thursday, February 18 to “Underweight” rating. Sterne Agee CRT initiated the stock with “Neutral” rating in Tuesday, September 29 report. On Thursday, August 4 the stock rating was downgraded by Bank of America to “Underperform”. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, July 30.

According to Zacks Investment Research, “Garmin International is designs, manufactures, and markets navigation and communications equipment for a variety of markets, including aviation, marine, automotive, cellular, OEM, and general recreation. Specifically, the company aims to enrich the lives of customers, suppliers, distributors, and employees by providing the very best products that offer superior quality, safety, and operational features at affordable prices.”

Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.14, from 1.24 in 2016Q1. The ratio worsened, as 45 funds sold all Garmin Ltd. shares owned while 85 reduced positions. 40 funds bought stakes while 103 increased positions. They now own 66.55 million shares or 2.98% less from 68.60 million shares in 2016Q1.
Aberdeen Asset Public Ltd Company Uk holds 0% or 19,568 shares in its portfolio. Apg Asset Mngmt Nv owns 150,486 shares or 0.01% of their US portfolio. Kornitzer Capital Inc Ks holds 360,942 shares or 0.28% of its portfolio. New York State Common Retirement Fund accumulated 277,900 shares or 0.02% of the stock. D E Shaw & last reported 171,517 shares in the company. Sei Invests Communications has 1,077 shares for 0% of their US portfolio. Freestone Capital has 50,804 shares for 0.21% of their US portfolio. Rhumbline Advisers accumulated 0.02% or 156,088 shares. Strs Ohio holds 0.04% of its portfolio in Garmin Ltd. (NASDAQ:GRMN) for 225,000 shares. Deutsche Natl Bank Ag has 0.03% invested in the company for 1.04 million shares. The New York-based Gotham Asset Management Limited Liability Co has invested 0.4% in Garmin Ltd. (NASDAQ:GRMN). State Board Of Administration Of Florida Retirement Systems holds 0.02% or 172,085 shares in its portfolio. Stevens Management Ltd Partnership has 66,444 shares for 0.11% of their US portfolio. Synovus Fincl Corp has invested 0% of its portfolio in Garmin Ltd. (NASDAQ:GRMN). Deere And Company holds 0.07% or 29,443 shares in its portfolio.

Insider Transactions: Since May 11, 2016, the stock had 0 buys, and 6 insider sales for $554,958 net activity. 1,429 Garmin Ltd. (NASDAQ:GRMN) shares with value of $78,595 were sold by PEMBLE CLIFTON A. Bartel Danny J also sold $42,861 worth of Garmin Ltd. (NASDAQ:GRMN) on Friday, August 19. 7,200 shares were sold by Huang Pao-Chang, worth $292,896 on Wednesday, May 11. 1,084 shares with value of $60,010 were sold by Straub Philip on Monday, August 15. 1,046 shares with value of $57,425 were sold by ETKIND ANDREW R on Wednesday, August 3. 425 Garmin Ltd. (NASDAQ:GRMN) shares with value of $23,171 were sold by Biddlecombe Sean.

Garmin Ltd. and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The company has a market cap of $9.09 billion. Garmin designs, develops, makes, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor and information products. It has a 18.36 P/E ratio. It operates through five business divisions: marine, outdoor, fitness, auto and aviation.

GRMN Company Profile

Garmin Ltd. (Garmin), incorporated on February 9, 2010, and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. Garmin designs, develops, makes, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor and information products. The Firm operates through five business divisions: marine, outdoor, fitness, auto and aviation.

More notable recent Garmin Ltd. (NASDAQ:GRMN) news were published by: Businesswire.com which released: “Garmin® updates a classic: Introducing the GPSMAP® 276Cx, a versatile all …” on October 04, 2016, also Fool.com with their article: “Better Buy: GoPro Inc. vs. Garmin Ltd.” published on September 20, 2016, Fool.com published: “Better Buy: Fitbit Inc. vs. Garmin Ltd.” on September 17, 2016. More interesting news about Garmin Ltd. (NASDAQ:GRMN) were released by: Fool.com and their article: “Why Garmin Ltd. Stock Soared 28% Last Month” published on August 02, 2016 as well as Fool.com‘s news article titled: “Garmin Ltd. Earnings Surge 18%” with publication date: August 05, 2016.

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