Garmin Stock Price, News & Analysis

Garmin has launched the Descent Mk2S, a compact dive computer designed for women and those with smaller wrists. The device features a 1.2-inch sapphire display and supports multiple dive modes, tracking data for up to 200 dives. It includes wellness tracking, a variety of sports apps, and advanced metrics for activities like surfing and mountain biking. Priced at $999.99, the Mk2S combines functionality with style, making it suitable for both diving and daily wear.

Garmin International has launched the MS-RA60 marine stereo, an entry-level solution for boaters, featuring a modern design and advanced audio technology. Priced at $199.99, it includes wireless Bluetooth connectivity, Multi-Zone control, and a built-in DAB tuner for improved radio access. The stereo is designed to fit in existing cut-outs of previous models, making upgrades easy. Weather resistance standards of IPX6 and IPX7 ensure durability in harsh marine conditions, catering to users seeking high-quality, affordable onboard entertainment.

Garmin Ltd. (Nasdaq: GRMN) announced the establishment of a pre-arranged trading plan by a trust co-managed by Jonathan Burrell, a director and co-founder’s son. This trading plan complies with Rule 10b5-1 of the Securities Exchange Act of 1934, allowing officers and directors to schedule stock sales without possessing material non-public information. Burrell currently holds a beneficial interest in approximately 11% of Garmin's shares. The plan, aimed at tax planning, will be publicly disclosed with SEC filings. No shares have been sold under this plan as of yet.

Garmin International has received FAA Supplemental Type Certificate approval for the GFC 600 digital autopilot in select Cessna CitationJet 525 models. This marks the first jet certification for the GFC 600, enhancing in-flight characteristics and introducing advanced features such as autopilot-coupled Vertical Navigation (VNAV) descent and fully coupled go-arounds. Cessna CitationJet owners can install the GFC 600 as part of an upgrade package that includes the G600 TXi flight display and other advanced navigators, optimizing single-pilot operations.

Garmin International announced the launch of the new dēzl OTR500, featuring a 5.5" HD touchscreen display for improved visibility on the road. This model expands Garmin's dēzl™ OTR lineup, which now includes sizes from 5.5" to 10". A key enhancement is the integration of PrePass® weigh station bypass notifications, helping truck drivers save time and resources by bypassing weigh stations. This new feature complements existing functionalities, including load-to-dock guidance and customized truck routes.

Garmin International has launched the MSC™ 10 marine satellite compass, enhancing marine navigation with multi-band GNSS technology. This innovative device provides accurate heading within 2 degrees and updates its position at 10Hz, ensuring precise tracking even in challenging conditions. The MSC 10 transitions seamlessly to a backup magnetometer if satellite signals are lost. Priced at $1,099.99, it is compatible with various Garmin chartplotters, affirming Garmin's commitment to marine electronics excellence.

Garmin announced increased recognition for its innovative Autoland system, the world’s first certified autonomous flight technology. This system, achieving FAA certification in 2020, allows for safe emergency landings without human intervention. Recently, Autoland was nominated for the 2020 Robert J. Collier Trophy, with winners to be revealed in June. Garmin's achievements include numerous industry awards, showcasing its commitment to aviation safety and technology, with endorsements from customers emphasizing the reliability and safety of Autoland.

Garmin Ltd. (NASDAQ: GRMN) reported a strong first quarter for 2021, achieving total revenue of $1.07 billion, a 25% increase from the previous year. Key segments such as fitness and outdoor saw notable growth of 38% and 46%, respectively. Gross margins improved to 59.8%, while operating income increased 41% to $250 million. GAAP EPS rose to $1.14, and pro forma EPS reached $1.18, reflecting 30% growth year-over-year. The company continues to execute its product strategy with successful launches in fitness and outdoor categories.

Garmin has launched the new Venu 2 and Venu 2S GPS smartwatches, designed to enhance user wellness with features like fitness age and sleep score. These models include over 25 sports apps, advanced health monitoring, and improved battery life, with the Venu 2 lasting up to 11 days and Venu 2S up to 10 days in smartwatch mode. The price is set at $399.99. Garmin emphasizes the ability of these devices to help users make healthier choices and monitor their wellbeing effectively.