Barclays Upgrades Garmin Amid Positive Outlook for Wearables
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 13 2024
0mins
Garmin Ltd. experienced a price drop of 5.00% as it crossed below its 5-day SMA, reflecting broader market weakness with the Nasdaq-100 down 1.89% and the S&P 500 down 1.88%.
Despite this decline, Barclays upgraded Garmin from Underweight to Equal Weight, raising the price target from $208 to $217. Analysts expressed optimism about Garmin's diversified business model and strong performance in the wearables sector, which is expected to be less affected by consumer spending contractions. This positive outlook contrasts with the overall market sentiment, indicating potential resilience for Garmin.
The upgrade from Barclays may provide a buffer against the current market pressures, suggesting that Garmin's strategic positioning in the wearables market could lead to recovery in its stock performance.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy GRMN?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on GRMN
Wall Street analysts forecast GRMN stock price to rise
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 245.220
Low
217.00
Averages
259.00
High
310.00
Current: 245.220
Low
217.00
Averages
259.00
High
310.00
About GRMN
Garmin Ltd. (Garmin) is a Switzerland-based entity. The Company and its subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments: fitness, outdoor, aviation, marine and auto. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices. Garmin offers various products designed for use in fitness and activity tracking. Company’s aviation business segment is a provider of solutions to aircraft manufacturers, existing aircraft owners and operators, as well as military and government customers and serves a range of aircraft, including transport aircraft, business aviation, general aviation, experimental/light sport, helicopters, optionally piloted vehicles, and unmanned aerial vehicles. Company operates worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Garmin Launches LiveScope 2 Series with Enhanced Sonar Technology
- Technological Innovation: Garmin's newly launched LiveScope 2 Series features three new transducer models that deliver a 20% increase in resolution, significantly enhancing image clarity and noise reduction, thereby improving anglers' real-time underwater observation capabilities and overall fishing success.
- Simplified Installation: All transducers in the new series connect directly to compatible multi-function displays, eliminating the need for a black box and simplifying the installation process, which reduces preparation time for anglers and allows them to get on the water faster.
- Real-Time Feedback: The fast processing speeds and low latency of the LiveScope 2 Series enable anglers to observe fish reactions in real time and adjust their hook settings accordingly, enhancing precision and efficiency in fishing, which further strengthens Garmin's competitive edge in the market.
- Market Pricing: The suggested retail prices for the LiveScope 2 Series range from $1,999.99 to $2,199.99, reflecting its premium market positioning and underscoring Garmin's ongoing innovation and leadership in high-quality fishing electronics.
See More
Garmin Pilot Expands SmartCharts to Canada and Mexico
- Feature Updates: The Garmin Pilot mobile app has received multiple updates, including a redesigned Flights page and the expansion of SmartCharts to Canada and Mexico, enhancing flight planning intuitiveness and efficiency while improving user experience.
- Flights Page Improvement: The new Flights page integrates route planning, weight and balance, and fuel planning, allowing pilots to manage all flight tasks on a single platform, thereby increasing preparation efficiency and accuracy.
- SmartCharts Expansion: SmartCharts will be available in Canada and Mexico in August, providing a dynamic aviation charting solution that helps pilots achieve continuous descent during non-precision approaches, reducing pilot workload and enhancing flight safety.
- Oshkosh FISK Arrival Procedure: Garmin Pilot will support the FISK arrival procedure for EAA AirVenture Oshkosh 2026, with new labels and airport diagram details to help pilots better identify waypoints, thereby boosting flight confidence.
See More
Garmin Announces Q2 2026 Earnings Call Details
- Earnings Call Schedule: Garmin will hold its Q2 2026 earnings conference call on July 29, 2026, at 10:30 a.m. EDT, featuring executives to provide shareholders and investors with the latest financial insights.
- Pre-Release of Earnings: The earnings report will be released prior to the market opening on the same day as the call, ensuring that investors receive critical information for informed decision-making.
- Online Registration Access: Investors can register for the call via Garmin's investor relations website under the News & Events section, where they will receive dial-in information and a conference ID for participation.
- Webcast Archive Availability: The live webcast will be accessible on Garmin's investor relations site and will be archived for one year post-event, allowing investors who cannot attend live to review the meeting content.
See More
Garmin Invites Shareholders to Q2 2026 Earnings Call
- Earnings Call Schedule: Garmin will hold its Q2 2026 earnings conference call on July 29, 2026, at 10:30 a.m. EDT, where executives will discuss financial performance, aiming to enhance transparency and boost investor confidence.
- Earnings Release Preview: The earnings report will be released prior to market open, expected to provide key data on the company's performance, helping investors assess Garmin's market standing and future growth potential.
- Online Registration Access: Investors can register online to receive dial-in information and conference ID, ensuring participants can smoothly access the call, thereby enhancing the convenience of information acquisition.
- Live Webcast and Archive: The call will be live-streamed on Garmin's investor relations website, with an archive available for one year post-event, ensuring that investors who cannot participate live can still access the information, thus improving information accessibility.
See More
Garmin Launches Innovative Racing Radar System
- Product Innovation: Garmin's newly launched Catalyst R1 racing radar system is designed to enhance situational awareness for high-performance drivers, providing a competitive edge on the racetrack with a retail price of $799.99.
- Design Features: The radar system boasts an IP67 dust and water rating, enabling it to withstand rigorous racetrack conditions such as weather, heat, and vibration, ensuring reliability in various environments.
- Safety Enhancement: By incorporating indicator lights within the driver's line of sight, the Catalyst R1 allows drivers to remain focused on the track while being alerted to approaching vehicles from behind, thereby improving overtaking and defensive capabilities.
- Market Launch: The Catalyst R1 will be available for purchase on garmin.com starting June 12, 2026, marking Garmin's continued commitment to the racing community and aiming to enhance the driving experience for motorsports enthusiasts.
See More
Garmin Announces Dividend Payment Schedule for 2026
- Shareholder Approval: At Garmin's annual shareholders' meeting in Switzerland, shareholders approved a cash dividend of $4.20 per share, payable in four equal installments, reflecting the company's commitment to shareholder returns.
- Dividend Payment Schedule: The first installment of $1.05 will be paid on June 26, 2026, with a record date of June 15, followed by quarterly payments, ensuring a steady cash inflow for investors.
- Ongoing Shareholder Return Strategy: This dividend plan not only boosts shareholder confidence but also showcases Garmin's strong financial health, which is expected to attract more investor interest.
- Company Background: Garmin's innovative products across aviation, automotive, and fitness markets demonstrate its strategic focus on enhancing user experience, further solidifying its leadership position in the industry.
See More
Garmin Launches LiveScope 2 Series with Enhanced Sonar Technology
- Technological Innovation: Garmin's newly launched LiveScope 2 Series features three new transducer models that deliver a 20% increase in resolution, significantly enhancing image clarity and noise reduction, thereby improving anglers' real-time underwater observation capabilities and overall fishing success.
- Simplified Installation: All transducers in the new series connect directly to compatible multi-function displays, eliminating the need for a black box and simplifying the installation process, which reduces preparation time for anglers and allows them to get on the water faster.
- Real-Time Feedback: The fast processing speeds and low latency of the LiveScope 2 Series enable anglers to observe fish reactions in real time and adjust their hook settings accordingly, enhancing precision and efficiency in fishing, which further strengthens Garmin's competitive edge in the market.
- Market Pricing: The suggested retail prices for the LiveScope 2 Series range from $1,999.99 to $2,199.99, reflecting its premium market positioning and underscoring Garmin's ongoing innovation and leadership in high-quality fishing electronics.
See More
Garmin Pilot Expands SmartCharts to Canada and Mexico
- Feature Updates: The Garmin Pilot mobile app has received multiple updates, including a redesigned Flights page and the expansion of SmartCharts to Canada and Mexico, enhancing flight planning intuitiveness and efficiency while improving user experience.
- Flights Page Improvement: The new Flights page integrates route planning, weight and balance, and fuel planning, allowing pilots to manage all flight tasks on a single platform, thereby increasing preparation efficiency and accuracy.
- SmartCharts Expansion: SmartCharts will be available in Canada and Mexico in August, providing a dynamic aviation charting solution that helps pilots achieve continuous descent during non-precision approaches, reducing pilot workload and enhancing flight safety.
- Oshkosh FISK Arrival Procedure: Garmin Pilot will support the FISK arrival procedure for EAA AirVenture Oshkosh 2026, with new labels and airport diagram details to help pilots better identify waypoints, thereby boosting flight confidence.
See More
Garmin Announces Q2 2026 Earnings Call Details
- Earnings Call Schedule: Garmin will hold its Q2 2026 earnings conference call on July 29, 2026, at 10:30 a.m. EDT, featuring executives to provide shareholders and investors with the latest financial insights.
- Pre-Release of Earnings: The earnings report will be released prior to the market opening on the same day as the call, ensuring that investors receive critical information for informed decision-making.
- Online Registration Access: Investors can register for the call via Garmin's investor relations website under the News & Events section, where they will receive dial-in information and a conference ID for participation.
- Webcast Archive Availability: The live webcast will be accessible on Garmin's investor relations site and will be archived for one year post-event, allowing investors who cannot attend live to review the meeting content.
See More
Garmin Invites Shareholders to Q2 2026 Earnings Call
- Earnings Call Schedule: Garmin will hold its Q2 2026 earnings conference call on July 29, 2026, at 10:30 a.m. EDT, where executives will discuss financial performance, aiming to enhance transparency and boost investor confidence.
- Earnings Release Preview: The earnings report will be released prior to market open, expected to provide key data on the company's performance, helping investors assess Garmin's market standing and future growth potential.
- Online Registration Access: Investors can register online to receive dial-in information and conference ID, ensuring participants can smoothly access the call, thereby enhancing the convenience of information acquisition.
- Live Webcast and Archive: The call will be live-streamed on Garmin's investor relations website, with an archive available for one year post-event, ensuring that investors who cannot participate live can still access the information, thus improving information accessibility.
See More
Garmin Launches Innovative Racing Radar System
- Product Innovation: Garmin's newly launched Catalyst R1 racing radar system is designed to enhance situational awareness for high-performance drivers, providing a competitive edge on the racetrack with a retail price of $799.99.
- Design Features: The radar system boasts an IP67 dust and water rating, enabling it to withstand rigorous racetrack conditions such as weather, heat, and vibration, ensuring reliability in various environments.
- Safety Enhancement: By incorporating indicator lights within the driver's line of sight, the Catalyst R1 allows drivers to remain focused on the track while being alerted to approaching vehicles from behind, thereby improving overtaking and defensive capabilities.
- Market Launch: The Catalyst R1 will be available for purchase on garmin.com starting June 12, 2026, marking Garmin's continued commitment to the racing community and aiming to enhance the driving experience for motorsports enthusiasts.
See More
Garmin Announces Dividend Payment Schedule for 2026
- Shareholder Approval: At Garmin's annual shareholders' meeting in Switzerland, shareholders approved a cash dividend of $4.20 per share, payable in four equal installments, reflecting the company's commitment to shareholder returns.
- Dividend Payment Schedule: The first installment of $1.05 will be paid on June 26, 2026, with a record date of June 15, followed by quarterly payments, ensuring a steady cash inflow for investors.
- Ongoing Shareholder Return Strategy: This dividend plan not only boosts shareholder confidence but also showcases Garmin's strong financial health, which is expected to attract more investor interest.
- Company Background: Garmin's innovative products across aviation, automotive, and fitness markets demonstrate its strategic focus on enhancing user experience, further solidifying its leadership position in the industry.
See More
