Garmin Reaches New 52-Week High (GRMN)

NEW YORK ( TheStreet) -- Garmin (Nasdaq: GRMN) hit a new 52-week high Wednesday as it is currently trading at $50.22, above its previous 52-week high of $49.93 with 793,570 shares traded as of 10 a.m. ET. Average volume has been 921,300 shares over the past 30 days.

Garmin has a market cap of $9.19 billion and is part of the technology sector and electronics industry. Shares are up 19.3% year to date as of the close of trading on Tuesday.

Garmin Ltd., together with its subsidiaries, designs, develops, manufactures, and markets global positioning system (GPS) enabled products and other navigation, communication, and information products for the automotive/mobile, outdoor, fitness, marine, and general aviation markets worldwide. The company has a P/E ratio of 17.7, equal to the average electronics industry P/E ratio and equal to the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Garmin as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Garmin Ratings Report.

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