For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Garmin (GRMN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Garmin is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sec ...

Garmin (GRMN 1.74%) has been somewhat of a surprise stock market winner in 2024. Shares of the GPS-enabled device and wearables maker have soared 60% year to date with only a handful of trading days remaining.The market-beating results came as the company shocked investors and analysts with its revenue and earnings growth throughout the year. Garmin's third-quarter revenue soared 24% versus the prior-year period. It now projects full-year sales will grow 17% compared to 2023.The sharp rise in the stock may ...

Core Viewpoint - Garmin (GRMN) has demonstrated significant stock performance, with a 27.8% increase over the past three months, outperforming both the Electronics - Miscellaneous Products industry and the broader Zacks Computer and Technology sector [1] Financial Performance - Garmin's third-quarter 2024 results exceeded expectations, driven by strong sales execution and effective cost management [2] - The company raised its 2024 revenue guidance from $5.95 billion to $6.12 billion, with pro-forma earnings guidance increasing from $6 per share to $6.85 per share [3] - The Zacks Consensus Estimate for 2024 revenues is $6.10 billion, indicating a year-over-year growth of 16.6%, while the consensus for earnings is $7.01 per share, reflecting a 25.4% year-over-year growth [3] Segment Performance - The Marine segment's revenue growth rate is maintained at 15%, while the Outdoor segment's growth estimate has been raised to 13% [4] - The Auto OEM guidance has been lowered to 40%, and a flat revenue estimate is provided for the Aviation segment in 2024 [4] Cash Flow and Liquidity - Garmin anticipates a full-year 2024 free cash flow of approximately $1.1 billion [5] - As of September 28, 2024, Garmin holds about $3.5 billion in cash and equivalents, an increase from $3.4 billion as of June 29, 2024 [6] - In Q3 2024, Garmin generated an operating cash flow of $258 million and a free cash flow of $219 million [6] Product Innovation - Garmin's continuous product releases, including the Venu, Lily, and Vivoactive smartwatch series, enhance its technological innovation and market position [7] - The Lily 2 Active smartwatch features integrated GPS and wellness capabilities, marking it as Garmin's smallest smartwatch with GPS [8] - The JL Audio SlamPak Audio System for Polaris SxS vehicles enhances the audio experience for outdoor enthusiasts [9] - The Approach R50 premium launch monitor and golf simulator allows golfers to practice year-round [10][11] - The Descent X50i dive computer features advanced communication technology for divers [12] - The G3000 PRIME integrated flight deck maximizes safety and efficiency for pilots [13] Valuation and Market Position - Garmin stocks are trading at a premium with a forward 12-month Price/Sales ratio of 6.56X compared to the industry's 4.30X, reflecting a Value Style Score of D [14] - Despite the premium valuation, Garmin's innovative edge and new business strategy justify its attractiveness to investors [14] - Garmin currently holds a Zacks Rank 1 (Strong Buy), suggesting that existing investors should hold while new buyers should accumulate the stock [15]

Core Insights - Garmin's 2024 Garmin Connect Data Report reveals significant health and fitness trends among its users globally, indicating that 2024 was another active year for the Garmin Connect community [1][2] Health and Wellness Insights - Average Body Battery™ level is 71, with users experiencing the most energy on Tuesdays and the least on Saturdays; the Netherlands has the highest average score while Japan has the lowest [3] - Average sleep score is 71, with users in the Netherlands achieving the best sleep quality and those in Indonesia having the lowest average sleep score [3] - Average stress score is 30, with Mondays being the least stressful and Saturdays the most; users in Malaysia report the highest stress levels while South Korea has the lowest [3] Fitness Insights - Average training readiness score is 60, with New Zealand users being the most prepared for workouts and South Korea having the lowest score [4] - Seasonal trends in training status show "Detraining" is most common in the last quarter of the year, while "Peaking" and "Productive" statuses are prevalent in the summer months [4] - Garmin users average 8,317 daily steps, with the highest averages in Hong Kong and the lowest in Indonesia [4] - Users are, on average, 2.48 years "younger" in fitness age compared to their actual age [4] Activity Increases - Significant increases in activity types recorded include: - Track running: +65% - HIIT: +56% - Pilates: +42% - E-bike riding: +38% - Indoor rock climbing: +31% [5] Product Features - Garmin's latest smartwatches, such as the Venu® 3 and fēnix® 8, are equipped with advanced health and fitness features aimed at helping users achieve various wellness goals [8]

Company Overview - Garmin Ltd. is headquartered in Switzerland and is listed on NYSE under the ticker GRMN. The company specializes in the development, manufacturing, and sale of wireless devices, primarily smartwatches [1]. Product Segments - The company primarily sells smartwatches through its fitness and outdoor segments. Additionally, Garmin offers products for aviation, marine, and automotive applications, including flight decks, boat GPS systems, and dash cameras [1].

Core Viewpoint - Garmin has emerged as a leading growth stock in the technology sector, with shares up 63% year-to-date, driven by strong quarterly performance and optimistic future guidance [1][4]. Group 1: Company Overview - Garmin has over 35 years of experience and is recognized for its integration of GPS technology across various consumer and commercial products [2]. - The company has expanded from specialized aircraft instrumentation to automotive navigation systems and GPS-enabled wearables for health and fitness [2]. Group 2: Recent Developments - Major automobile manufacturers are increasingly incorporating Garmin's high-tech infotainment systems, boosting demand for its automotive solutions [3]. - In Q3, Garmin reported a 24% year-over-year increase in net sales and a 41% rise in adjusted earnings per share (EPS), exceeding Wall Street estimates [4]. Group 3: Financial Performance - Garmin achieved record revenue across all five reporting segments, with a 53% increase in automotive OEM sales and a 31% rise in fitness products due to new wearable launches [5]. - The gross margin improved to 60% in Q3 from 57% the previous year, reflecting a shift towards premium technology [6]. Group 4: Future Outlook - For 2024, Garmin expects annual revenue growth of 17%, up from a prior estimate of 14%, and targets an EPS of $6.85, representing a 23% increase from 2023 [6][7]. - The company’s financial strength is notable despite challenges in the broader industry, indicating strong investment appeal [8]. Group 5: Market Position - Garmin's unique operating profile lacks direct competitors, and its stock trades at 30 times its forward earnings estimate, comparable to Apple [10]. - Garmin's diverse hardware lineup is generating stronger growth compared to Apple's software-focused strategy, supporting a potential higher valuation premium [11]. Group 6: Investment Sentiment - There is optimism for Garmin's continued outperformance as macroeconomic conditions improve, potentially enhancing growth momentum [9]. - The company is expected to maintain solid fundamentals, rewarding investors in the long run [13].

Core Message - Garmin's Runway Occupancy Awareness (ROA) technology has been awarded the prestigious Laureate Award in the Business Aviation category by Aviation Week Network [1][2] Technology Details - ROA utilizes Surface Indications and Alert (SURF-IA) technology and ADS-B traffic monitoring to help pilots navigate complex airports and avoid runway incursions [1] - The technology analyzes aircraft GPS and ADS-B traffic information to assess and alert the crew of potential runway incursions or collisions [2] - ROA provides visual and aural alerts to the flight crew based on the level of threat, ranging from no immediate collision hazard to a warning level alert where a collision risk could occur within 15 seconds [3] - The system displays visual crew-alerting system (CAS) caution and warning annunciations on the pilot's primary flight display (PFD) and highlights the runway in yellow or red using Garmin's Synthetic Vision Technology (SVT™) [2] Certification and Availability - The initial FAA certification for ROA was received by Textron Aviation on the G1000® NXi-equipped Cessna Caravan [4] - Garmin's certification for ROA covers the Cessna Citation Excel, XLS, XLS+, and XLS Gen2 aircraft equipped with the G5000® STC [4] - ROA is initially available on select Garmin Integrated Flight Decks ranging from G1000 NXi to G5000 equipped aircraft [4] Company Background - Garmin is a leading provider of solutions to general aviation, business aviation, rotorcraft, advanced air mobility, government and defense, and commercial air carrier customers [5] - The company has previously received the prestigious Robert J Collier Trophy for Garmin Autoland, the world's first certified autonomous system that activates during an emergency to control and land an aircraft without human intervention [5] - Garmin International, Inc is a subsidiary of Garmin Ltd, which is incorporated in Switzerland and has principal subsidiaries in the United States, Taiwan, and the United Kingdom [6]

Wrist-based dive computer features a vibrant 3" color touchscreen display, backup dive light, air integration, diver-to-diver messaging and more OLATHE, Kan., Nov. 19, 2024 /PRNewswire/ -- Garmin (NYSE: GRMN) today announced Descent™ X50i, its largest dive computer with a vivid 3" color touchscreen display1. Using SubWave™ sonar technology, divers can use Descent X50i to communicate with one another underwater and monitor each other's tank pressure, depth and distance to keep tabs on one another when visibi ...

Pavilion outdoor speaker series honored with a Product Innovation Award from Home Technology Specialists of America OLATHE, Kan., Nov. 13, 2024 /PRNewswire/ -- Garmin (NYSE: GRMN) is proud to announce that JL Audio®, a Garmin brand, received an Innovation Award for its Pavilion™ line of outdoor home speakers from Home Technology Specialists of America, Inc. (HTSA), a leading consumer electronics trade group. The award was presented at HTSA's 2024 Fall Conference and recognizes products that offer exceptiona ...

Core Viewpoint - Garmin has launched the Approach R50, a premium launch monitor and golf simulator designed to enhance golfers' experience by providing accurate club and ball measurements, allowing play year-round regardless of weather conditions [1][10]. Product Features - The Approach R50 features a 10" color touchscreen and utilizes a three-camera system to track over 15 metrics related to ball and club performance, including spin rate and spin axis [1][7]. - It comes preloaded with more than 43,000 golf courses worldwide and includes an enhanced version of the Home Tee Hero simulator, enabling virtual rounds with up to four players [4][8]. - The device can connect to external monitors or projectors, allowing for a customizable simulator experience [5][10]. Training and Analytics - The Approach R50 includes a training mode that records sessions and tracks statistics for each club, providing golfers with insights into their performance and areas for improvement [6][7]. - High-speed impact videos offer immediate visual feedback, helping players analyze their swings and refine their techniques [6][7]. Connectivity and Compatibility - The device features built-in Wi-Fi, allowing users to access third-party simulators such as GSPro and E6 Connect/Apex, enhancing the versatility of the Approach R50 [9][10]. - It is designed for easy setup and portability, with a battery life of up to four hours, making it suitable for various playing environments [10]. Pricing and Availability - The Approach R50 is available for a suggested retail price starting at $4,999.99 [10].