Garmin Ltd Intrinsic Value Calculation – Vest Financial LLC Increases Stake in Garmin Ltd. by 16.5% in Third Quarter
October 23, 2024
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Garmin Ltd ($NYSE:GRMN). is a multinational technology company that specializes in GPS navigation devices and wearable technology. In the third quarter of this year, Vest Financial LLC, an investment management firm, increased its stake in Garmin Ltd. by 16.5%, according to the company’s latest 13F filing. This means that Vest Financial LLC now holds a larger percentage of the company’s shares, indicating their confidence in Garmin’s financial performance. This increase in holdings by Vest Financial LLC comes at a time when Garmin’s stock has been performing well. This can be attributed to Garmin’s strong financial results, with the company reporting a 16% increase in revenue for the third quarter compared to the same period last year. In addition to its financial success, Garmin has also been making strides in its product development and innovation.
The company recently announced its latest line of smartwatches, which include features such as solar charging, advanced health monitoring, and support for music streaming services. These new products have received positive reviews and are expected to contribute to Garmin’s continued growth. Despite the challenges posed by the global health crisis, Garmin has managed to maintain its profitability and continue its growth trajectory. With a solid product portfolio and a loyal customer base, Garmin is well-positioned for continued success in the technology industry.
Analysis – Garmin Ltd Intrinsic Value Calculation
As a fundamental analysis expert, I have evaluated the current state of GARMIN LTD‘s financials. After careful consideration, I have determined that the fair value of GARMIN LTD’s shares is approximately $123.1. This value has been calculated using our proprietary Valuation Line method. At the current trading price of $166.47, GARMIN LTD’s stock is overvalued by 35.3%. This means that investors are currently paying more for the stock than its estimated worth. This overvaluation may be a cause for concern as it indicates that the stock could potentially be subject to a price correction in the future. One key factor that contributes to the overvaluation of GARMIN LTD’s stock is its strong financial performance. The company has consistently shown steady revenue growth and profitability in recent years, leading to high investor confidence and demand for its shares. Additionally, GARMIN LTD’s strong brand reputation and market position in the technology industry also contribute to its stock being overvalued. Investors may be willing to pay a premium for shares of a company that is well-established and has a track record of success. However, it is important to note that overvaluation does not necessarily mean that a stock is a bad investment. It simply indicates that caution should be exercised when considering purchasing the stock at its current price. As such, investors should carefully consider their options before making any investment decisions regarding GARMIN LTD’s stock. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Garmin Ltd. More…
| Total Revenues | Net Income | Net Margin |
| 5.23k | 1.29k | 24.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Garmin Ltd. More…
| Operations | Investing | Financing |
| 1.38k | -332.97 | -636.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Garmin Ltd. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.6k | 1.59k | 36.56 |
Key Ratios Snapshot
Some of the financial key ratios for Garmin Ltd are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.7% | 1.2% | 20.9% |
| FCF Margin | ROE | ROA |
| 22.6% | 10.2% | 7.9% |
Peers
Its competitors include NetApp Inc, Jiangsu Leike Defense Technology Co Ltd, and Red Cat Holdings Inc.
– NetApp Inc ($NASDAQ:NTAP)
NetApp Inc is a American multinational storage and data management company headquartered in Sunnyvale, California. It is a member of the NASDAQ-100 and S&P 500. The company was founded in 1992 with an initial public offering in 1995. NetApp offers a wide range of products and services for enterprise storage, including software-defined storage, flash storage, converged systems, data management, and more. The company has a market cap of $14.66B as of 2022 and a Return on Equity of 100.42%.
– Jiangsu Leike Defense Technology Co Ltd ($SZSE:002413)
Jiangsu Leike Defense Technology Co Ltd is a Chinese company that specializes in the development and manufacture of defense products. The company has a market cap of 6.76B as of 2022 and a Return on Equity of -4.34%. Jiangsu Leike Defense Technology Co Ltd’s products include missiles, armored vehicles, and other defense products. The company is headquartered in Nanjing, China.
– Red Cat Holdings Inc ($NASDAQ:RCAT)
Red Cat Holdings Inc is a development stage company that focuses on acquiring, developing, and commercializing technology in the field of 3D printing. The company was founded in 2013 and is headquartered in Vancouver, Canada.
Red Cat has a market cap of $76.86M as of 2022 and a ROE of -11.27%. The company focuses on acquiring, developing, and commercializing technology in the field of 3D printing.
Summary
Garmin Ltd. has recently caught the attention of investors as Vest Financial LLC increased its holdings in the company by 16.5% in the third quarter. This indicates a growing interest in the stock and suggests that investors are confident in the company’s future prospects. Additionally, the company’s innovative products and expanding portfolio may also be contributing to its attractiveness to investors.
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