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NEW YORK (

TheStreet

)

-- Garmin

(Nasdaq:

GRMN

) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow.

Garmin Ltd. operates as a holding company and through its subsidiaries, designs, develops, manufactures, and markets global positioning system (GPS) enabled products and other navigation, communication, and information products worldwide. The company has a P/E ratio of 10.9, above the average electronics industry P/E ratio of 8.8 and below the S&P 500 P/E ratio of 22.7. Garmin has a market cap of $6.2 billion and is part of the

technology

TheStreet Recommends

sector and

electronics

industry. Shares are up 26.2% year to date as of the close of trading on Wednesday.

You can view the full

Garmin Ratings Report

or get investment ideas from our

investment research center

.

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