Topic: How To Invest

Power Growth Investor Hotline – Friday, August 2, 2024

Article Excerpt

GARMIN LTD., $168.52, is a buy. The company (symbol GRMN on Nasdaq) makes GPS devices and software for five different markets: fitness, outdoors, auto, aviation, and marine. In the three months ended June 29, 2024, Garmin’s overall revenue rose 14.1%, to $1.51 billion from $1.32 billion a year earlier. Sales in the marine segment rose 26%. That was primarily driven by the acquisition of JL Audio in September 2023. That firm was a privately held U.S. company that designed and manufactured audio solutions, including speakers, amplifiers, subwoofers and other audio components for marine, aftermarket automotive, powersports, home and RV customers. Sales in the fitness segment jumped 28%, primarily due to strong demand for advanced wearables. The outdoor segment’s revenue fell 2% primarily due to declines in adventure watches. Revenue in the aviation segment was unchanged. Sales in the auto segment jumped 41%, on higher sales of domain controllers. In automotive applications, a domain controller is a computer that directs a set of vehicle functions related…