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Analysts review Garmin Ltd’s rating

Garmin Ltd’s recent filing unveils that its President and CEO PEMBLE CLIFTON A unloaded Company’s shares for reported $2.55 million on Jun 18 ’24. In the deal valued at $160.21 per share,15,931 shares were sold. As a result of this transaction, PEMBLE CLIFTON A now holds 143,388 shares worth roughly $23.22 million.

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Then, Boessen Douglas G. sold 2,350 shares, generating $379,839 in total proceeds. Upon selling the shares at $161.63, the CFO and Treasurer now owns 28,010 shares.

Before that, Desbois Patrick sold 4,126 shares. Garmin Ltd shares valued at $674,675 were divested by the EVP, Operations at a price of $163.52 per share. As a result of the transaction, Desbois Patrick now holds 58,412 shares, worth roughly $9.46 million.

BofA Securities downgraded its Garmin Ltd [GRMN] rating to an Underperform from a a Neutral in a research note published on May 22, 2024; the price target was decreased to $150 from $165. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early January from “an Overweight” to “a Neutral”. KeyBanc Capital Markets started covering the stock on April 19, 2023. It rated GRMN as “a Sector weight”.

Price Performance Review of GRMN

On Friday, Garmin Ltd [NYSE:GRMN] saw its stock jump 0.48% to $161.93. Over the last five days, the stock has lost -0.05%. Garmin Ltd shares have risen nearly 25.98% since the year began. Nevertheless, the stocks have risen 53.85% over the past one year. While a 52-week high of $171.64 was reached on 05/20/24, a 52-week low of $99.61 was recorded on 02/01/24. SMA at 50 days reached $162.29, while 200 days put it at $134.30. A total of 0.82 million shares were traded, compared to the trading of 0.44 million shares in the previous session.

Levels Of Support And Resistance For GRMN Stock

The 24-hour chart illustrates a support level at 160.61, which if violated will result in even more drops to 159.29. On the upside, there is a resistance level at 162.73. A further resistance level may holdings at 163.53. The Relative Strength Index (RSI) on the 14-day chart is 50.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.73%. Stochastics%K at 48.14% indicates the stock is a holding.

The most recent change occurred on November 09, 2022 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $97 price target.

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