Garmin Rises On Unusually High Volume (GRMN)

NEW YORK ( TheStreet) -- Garmin (Nasdaq: GRMN) is trading at unusually high volume Tuesday with 3.2 million shares changing hands. It is currently at four times its average daily volume and trading up $1.34 (+3.5%) at $39.54 as of 3:05 p.m. ET.

Garmin has a market cap of $8.69 billion and is part of the technology sector and electronics industry. Shares are up 5.8% year to date as of the close of trading on Monday.

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 15.9, equal to the average electronics industry P/E ratio and below 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, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Garmin Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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