Illinois Municipal Retirement Fund Trims 20.5% of its Holdings in Garmin Ltd. in Q1
August 10, 2023
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The Illinois Municipal Retirement Fund recently revealed its latest filing, which showed a reduction of 20.5% in its holdings in Garmin Ltd ($NYSE:GRMN)., in the first quarter of this year. Garmin Ltd. is a leading global provider of navigation, communication and information devices, many of which are designed for automotive, aviation, marine and outdoor activities. Garmin Ltd. offers a wide range of products, including GPS navigator units, exercise monitoring devices, action cameras, wearable technology, and much more. With its innovative products, Garmin Ltd. has been able to consistently deliver strong financial performance and market share growth in recent years.
Furthermore, the company is focused on expanding its presence in the automotive market and connected car services industry. It remains to be seen how the Fund’s decision will affect the stock price of Garmin Ltd. in the future, but investors should keep a close watch on the company’s progress.
Analysis
GoodWhale’s analysis of GARMIN LTD’s wellbeing has placed them as a medium risk investment in terms of financial and business aspects. Our team of analysts have detected 1 risk warning in GARMIN LTD’s balance sheet. To understand the details of this risk warning, please register on goodwhale.com and view the full report. Our aim is to help investors make informed decisions and ensure they have all the pertinent information available to them. 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 |
| 4.92k | 994.39 | 19.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Garmin Ltd. More…
| Operations | Investing | Financing |
| 1.08k | 181.9 | -920.65 |
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 |
| 7.87k | 1.75k | 31.99 |
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 |
| 9.3% | 3.0% | 20.1% |
| FCF Margin | ROE | ROA |
| 17.6% | 9.9% | 7.8% |
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
IMRF dropped its holding by 20.5%, indicating a bearish sentiment in the stock. Investors should take this as a cautionary sign and do further research into the company’s fundamentals before investing in the stock. Investors should pay attention to key factors such as financials, competitive advantages, and company management when evaluating Garmin Ltd as an investment. Additionally, investors should keep an eye on changing market conditions to get a better understanding of how the stock might perform in future trading sessions.
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