Could Garmin Ltd. Change Direction After Today’s Bullish Options Activity?

 Could Garmin Ltd. Change Direction After Today's Bullish Options Activity?

In today’s session Garmin Ltd. (GRMN) registered an unusually high (984) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious GRMN increase. With 984 contracts traded and 12124 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: GRMN170120C00047500 closed last at: $2.79 or 14.3% up. About 121,336 shares traded hands. Garmin Ltd. (NASDAQ:GRMN) has risen 23.86% since April 11, 2016 and is uptrending. It has outperformed by 17.72% the S&P500.

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 -27.89% below today’s ($49.58) stock price. Garmin Ltd. has been the topic of 22 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was downgraded by Credit Suisse to “Underperform” on Monday, January 18. The firm has “Neutral” rating given on Thursday, October 29 by Citigroup. As per Thursday, July 30, the company rating was maintained by RBC Capital Markets. The company was initiated on Tuesday, September 29 by Sterne Agee CRT. The firm has “Outperform” rating given on Thursday, October 15 by RBC Capital Markets. The firm earned “Neutral” rating on Monday, October 19 by JP Morgan. Credit Suisse downgraded the stock to “Underperform” rating in Friday, January 15 report. The company was downgraded on Thursday, August 4 by Bank of America. The stock of Garmin Ltd. (NASDAQ:GRMN) earned “Mkt Perform” rating by Raymond James on Monday, August 22. As per Tuesday, August 25, the company rating was upgraded by Raymond James.

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 Q2 2016. Its down 0.14, from 1.24 in 2016Q1. The ratio dropped, 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.
Blackrock Fund Advisors, a California-based fund reported 6.14 million shares. Advisory Ser Net Ltd Liability last reported 0% of its portfolio in the stock. The Florida-based State Board Of Administration Of Florida Retirement Sys has invested 0.02% in Garmin Ltd. (NASDAQ:GRMN). Moreover, Diam Company has 0.01% invested in Garmin Ltd. (NASDAQ:GRMN) for 12,782 shares. Renaissance Technologies Ltd Llc reported 81,400 shares or 0.01% of all its holdings. Teachers Advisors last reported 154,929 shares in the company. Proshare Advisors Limited Liability Company has 14,427 shares for 0.01% of their US portfolio. Utah Retirement Systems has invested 0.02% of its portfolio in Garmin Ltd. (NASDAQ:GRMN). Comerica Bank accumulated 37,443 shares or 0.02% of the stock. The Maryland-based Chevy Chase Hldg Incorporated has invested 0.02% in Garmin Ltd. (NASDAQ:GRMN). Rhumbline Advisers, a Massachusetts-based fund reported 156,088 shares. Robeco Institutional Asset Mgmt Bv, a Netherlands-based fund reported 126,129 shares. The Georgia-based Atlantic Trust Ltd Liability Com has invested 0% in Garmin Ltd. (NASDAQ:GRMN). Tortoise Capital Advsr Limited Liability has invested 0% of its portfolio in Garmin Ltd. (NASDAQ:GRMN). Qs Limited Company reported 1,758 shares or 0% of all its holdings.

Insider Transactions: Since August 3, 2016, the stock had 0 insider buys, and 5 selling transactions for $262,062 net activity. 786 shares were sold by Bartel Danny J, worth $42,861 on Friday, August 19. The insider Straub Philip sold $60,010. ETKIND ANDREW R sold $57,425 worth of stock or 1,046 shares. Another trade for 1,429 shares valued at $78,595 was made by PEMBLE CLIFTON A on Thursday, August 4. Biddlecombe Sean also sold $23,171 worth of Garmin Ltd. (NASDAQ:GRMN) shares.

Garmin Ltd. and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The company has a market cap of $9.44 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 18.55 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 news for Garmin Ltd. (NASDAQ:GRMN) were recently published by: Fool.com, which released: “A Strong Case for Buying Garmin Ltd. Stock” on November 08, 2016. Businesswire.com‘s article titled: “Garmin® introduces GMR Fantomâ„¢ 18 and 24 dome radars” and published on November 02, 2016 is yet another important article.

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