We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Garmin (GRMN) Boosts Marine Offerings With Its Latest Move
Read MoreHide Full Article
Garmin (GRMN - Free Report) has been continuously putting efforts into strengthening its portfolio of marine offerings.
This is evident from its latest move of making select ECHOMAP and GPSMAP chart plotters compatible with Power-Pole Shallow Water Anchors.
More precisely, this functionality is available for chart plotters like GPSMAP 8600/8600xsv series, GPSMAP 10×2/12×2, GPSMAP 7×3/9×3/12×3, GPSMAP 7×2/9×2/12×2 Plus series, ECHOMAP Ultra, and ECHOMAP UHD 7- and 9-inch Touch series.
With the latest compatibility, anglers will be able to stow and deploy their Power-Poles directly from their chart plotter, which, in turn, will deliver more onboard control.
Further, the move has added strength to its chart plotter offerings.
The latest move bodes well for the company’s continued efforts to expand its marine segment.
Apart from the latest move, Garmin’s Fusion Entertainment brand released the MS-RA60 marine stereo and EL Series speaker kit, and the MS-RA210 premium marine stereo and XS Series speaker kit.
With the help of the latest stereos and speakers, Garmin aims to provide an enhanced entertainment experience to boaters.
Apart from these, the company’s robust portfolio of radars, specially designed for marine lovers, is continuously helping it gain momentum among boaters and anglers.
We believe that the expanding marine solutions portfolio will drive growth in its marine segment.
Notably, the particular segment generated sales of $196.4 million in fourth-quarter 2021, which increased 14% year over year and accounted for 14% of total sales.
Wrapping Up
Garmin has been making every effort to increase its share in all the markets served, backed by new products and upgrades to the existing ones. It is experiencing notable success in all segments, courtesy of introductions of several technologies and products.
Notably, the latest move has strengthened its overall portfolio.
Apart from the latest move, the company unveiled the Tacx NEO Motion Plates for bringing multi-directional movement to Tacx NEO, NEO 2 and NEO 2T smart trainers.
Further, Garmin introduced a portable golf launch monitor, Approach R10, which is designed to help golfers make games better at home, indoors or at the driving range.
The company also launched products to the Tread series in a bid to provide advanced navigation capabilities to powersport enthusiasts.
Image: Bigstock
Garmin (GRMN) Boosts Marine Offerings With Its Latest Move
Garmin (GRMN - Free Report) has been continuously putting efforts into strengthening its portfolio of marine offerings.
This is evident from its latest move of making select ECHOMAP and GPSMAP chart plotters compatible with Power-Pole Shallow Water Anchors.
More precisely, this functionality is available for chart plotters like GPSMAP 8600/8600xsv series, GPSMAP 10×2/12×2, GPSMAP 7×3/9×3/12×3, GPSMAP 7×2/9×2/12×2 Plus series, ECHOMAP Ultra, and ECHOMAP UHD 7- and 9-inch Touch series.
With the latest compatibility, anglers will be able to stow and deploy their Power-Poles directly from their chart plotter, which, in turn, will deliver more onboard control.
Further, the move has added strength to its chart plotter offerings.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Marine Segment to Grow
The latest move bodes well for the company’s continued efforts to expand its marine segment.
Apart from the latest move, Garmin’s Fusion Entertainment brand released the MS-RA60 marine stereo and EL Series speaker kit, and the MS-RA210 premium marine stereo and XS Series speaker kit.
With the help of the latest stereos and speakers, Garmin aims to provide an enhanced entertainment experience to boaters.
Apart from these, the company’s robust portfolio of radars, specially designed for marine lovers, is continuously helping it gain momentum among boaters and anglers.
We believe that the expanding marine solutions portfolio will drive growth in its marine segment.
Notably, the particular segment generated sales of $196.4 million in fourth-quarter 2021, which increased 14% year over year and accounted for 14% of total sales.
Wrapping Up
Garmin has been making every effort to increase its share in all the markets served, backed by new products and upgrades to the existing ones. It is experiencing notable success in all segments, courtesy of introductions of several technologies and products.
Notably, the latest move has strengthened its overall portfolio.
Apart from the latest move, the company unveiled the Tacx NEO Motion Plates for bringing multi-directional movement to Tacx NEO, NEO 2 and NEO 2T smart trainers.
Further, Garmin introduced a portable golf launch monitor, Approach R10, which is designed to help golfers make games better at home, indoors or at the driving range.
The company also launched products to the Tread series in a bid to provide advanced navigation capabilities to powersport enthusiasts.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider better-ranked stocks like Apple (AAPL - Free Report) , Mimecast and Teradata (TDC - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple has gained 29.6% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.
Mimecast has gained 94.1% in the past year. MIME’s long-term earnings growth rate is currently projected at 15%.
Teradata has gained 18.7% in the past year. The long-term earnings growth rate for TDC is currently projected at 19.5%.