Garmin Ltd. (GRMN): Today's Featured Technology Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Garmin ( GRMN) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 0.2%. By the end of trading, Garmin rose 66 cents (1.6%) to $41.84 on average volume. Throughout the day, 947,896 shares of Garmin exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in a price between $41.29-$42.85 after having opened the day at $41.29 as compared to the previous trading day's close of $41.18. Other companies within the Technology sector that increased today were: Wave Systems Corporation ( WAVX), up 32.5%, Helios & Matheson Information Technology In ( HMNY), up 30%, XRS ( XRSC), up 23.5%, and Aehr Test Systems ( AEHR), up 17%.

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. Garmin has a market cap of $8.53 billion and is part of the electronics industry. The company has a P/E ratio of 13.7, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 2.9% year to date as of the close of trading on Friday. Currently there are three analysts that rate Garmin a buy, one analyst rates it a sell, and six rate it a hold.

TheStreet Ratings rates Garmin as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, revenue growth, expanding profit margins, solid stock price performance and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the negative front, Powerwave Technologies ( PWAV), down 12.5%, Ellie Mae ( ELLI), down 12.1%, Enova Systems ( ENA), down 11.1%, and icad ( ICAD), down 11.1%, were all laggards within the technology sector with VMWare ( VMW) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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