Could Garmin Stock Get Your Portfolio Back on Track?

Shares of Garmin have declined in price over 40% from its all-time high

facebook X logo linkedin


Garmin Ltd. (NYSE:GRMN) is a multinational technology company that specializes in GPS technology for automotive, aviation, marine, outdoor, and sport activities. GRMN products include wearable technology, competing with activity tracker and smartwatch consumer developers such as Fitbit and Apple. At last glance, GRMN is kicking off Monday on a positive note, trading up 0.7% at $101.35.

The event schedule is full for GRMN in the next few weeks. Garmin is scheduled to present at the JP Morgan TMC Annual Conference on May 24, the Baird Global Tech Conference on June 7, and Garmin will also host their 2022 Annual Shareholder Meeting on June 10.

Garmin stock has decreased about 28% year-over-year and is currently trading down 43% since peaking at an all-time high of $178.81 last August. Additionally, shares of GRMN have dropped in price 25% year-to-date and a have shed 8% over the past month.

The GPS company provides investors exceptionally safe fundamentals for a relatively low valuation. Garmin stock trades at forward price-earnings ratio of 16.86 and a price-sales ratio of 3.85. GRMN also offers a solid dividend yield of 2.66% with a forward dividend of $2.68, making the reward potential attractive for long-term and dividend investors. In addition, Garmin holds an amazing balance sheet with $1.79 billion in cash and just $82.13 million in total debt.

Albeit amid light absolute volume, options traders have favored bullish bets in recent weeks. This is per Garmin stock's 10-day call/put volume ratio of 12.55 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands in the 91st annual percentile. 

Now might be a good time to weigh in on the GPS name's next move with options. The stock's Schaeffer's Volatility Scorecard (SVS) sits at an 89 out of 100, meaning the security has exceeded option traders' volatility expectations during the past calendar year.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI