Garmin Stock Price, News & Analysis

Garmin has been awarded the Best of What’s New Award for its Descent Mk2i dive computer and Descent T1 transmitter. This recognition highlights Garmin's innovative SubWave sonar communication technology, enabling advanced underwater data sharing. Retail prices are $1,499.99 for the Mk2i and $399.99 for the T1, with a bundle available for $1,849.99.

The Board of Garmin Ltd. (NASDAQ: GRMN) has declared a dividend of $0.67 per share, with a payment date of December 31, 2021 and a record date of December 15, 2021. This is part of a total annual cash dividend of $2.68 per share, approved by shareholders. The dividend will be divided into four equal installments, with two already paid on June 30, 2021 and September 30, 2021. The next installment is tentatively scheduled for March 31, 2022.

Garmin has secured a multiyear partnership as the Official Equipment Supplier for the University of New Mexico track and field and cross-country teams through spring 2024. This is Garmin's first venture supplying equipment to college teams. Athletes will utilize Garmin watches and accessories, including Forerunner 55, Forerunner 245, and HRM-Pro. The University boasts a strong athletic history with 25 Mountain West championships and 10 NCAA individual champions, highlighting the significance of this collaboration.

Garmin Ltd. (NASDAQ: GRMN) has announced its transfer of share listing from Nasdaq to the New York Stock Exchange (NYSE), effective December 7, 2021. This strategic move aims to enhance its visibility alongside established companies. Garmin, known for its innovation in the fitness, automotive, marine, and aviation sectors, plans to celebrate the transition by ringing the NYSE Opening Bell on the same date. The company continues to grow in the smartwatch market and has received accolades for its pioneering products, including the award-winning Autoland technology.

Garmin has entered a two-year agreement to become the title sponsor of the Garmin RunningLane Cross Country Championships, commencing on December 4, 2021, in Huntsville, Alabama. This prestigious event will feature over 1,500 high school athletes from across the U.S., competing for various individual and team awards. Garmin aims to promote its running products, including Forerunner series watches, and underscores its commitment to supporting youth athletes. This sponsorship will enhance Garmin's brand visibility within the fitness community.

Garmin has announced the winners of its 2021 Garmin Health Awards during the Garmin Health Summit in Lisbon. The awards recognize innovative solutions utilizing Garmin wearables in health and wellness programs. Winners include Fitrockr in Health Care, Qumata in Insurance, and Viessmann in Engagement, each receiving Garmin Venu Sq smartwatches. The summit showcased how Garmin’s technology improves business outcomes in health care and corporate wellness.

Garmin Ltd. (NASDAQ: GRMN) reported record Q3 revenue of $1.19 billion, a 7% year-over-year increase, alongside a notable decline in operating income by 11% to $283 million. GAAP EPS dropped 18% to $1.34, while pro forma EPS decreased by 11% to $1.41. Despite these figures, strong growth was observed in the aviation (19%) and marine (25%) segments. The company has raised its full-year revenue and EPS guidance, now forecasting approximately $4.95 billion in revenue and $5.60 pro forma EPS. Garmin also announced new product launches and strategic partnerships during the quarter.