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) Lifts Marine Segment With Signature 3i Speakers
Read MoreHide Full Article
Garmin (GRMN - Free Report) introduced the Signature Series 3i 8.8” wake tower marine speakers under its brand Fusion Entertainment.
The speakers come in Sports White and Sports Black, featuring a Sports Gray grille with a metallic paint finish.
The speakers offer high-quality audio, subsiding the engine noise. Moreover, these are fashioned with CURV cone technology, achieving superior sound and higher power output.
The latest marine speakers are compatible with a Fusion DSP-enabled stereo, including Apollo MS-RA770 and Fusion’s Apollo Series marine amplifiers.
With the Signature Series 3i marine speakers, Garmin aims to provide boaters with an enhanced audio experience.
This is expected to boost the adoption rate of Signature 3i speakers among people interested in water activities, thus contributing to top-line growth in the days ahead.
The brand new Signature Series 3i marine speakers are likely to help Garmin expand its footprint in the booming marine audio system market.
The underlined market is witnessing significant growth worldwide owing to increasing demand for recreational boating activities.
The rise in recreational boating is prompting manufacturers to produce higher-quality audio systems with water- and ultraviolet-resistant features. This is fueling growth in the marine audio system market.
Per a Business Research Insights report, the said market is expected to hit $1.77 billion by 2027, witnessing a CAGR of 11.4% between 2022 and 2027.
Strong Marine Offerings
The introduction of the Signature Series 3i marine speakers bodes well for Garmin’s growing efforts to expand its marine portfolio.
Last month, Garmin unveiled the ECHOMAP UHD2 chartplotter series with high-contrast scanning sonar power, mapping and fish-finding features to help anglers with effective fishing.
GRMN’s unveiling of the LiveScope Plus System with a sharper resolution, reduced noise and the clearest images for recreational fishing remains noteworthy.
Further, Garmin offers Garmin Navionics+ and Garmin Navionics Vision+, thereby enhancing the navigation experience of mariners, boaters and anglers.
Strengthening the marine solutions portfolio will continue to bolster the performance of the marine segment, which became integral to GRMN.
This, in turn, is likely to aid Garmin in winning investors’ confidence in the near term.
The marine segment generated sales of $196.5 million, accounting for 17% of total third-quarter 2022 revenues.
Shares of GRMN have declined 32% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 36.7%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold). Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies (A - Free Report) , Asure Software (ASUR - Free Report) and America Movil (AMX - Free Report) . While Asure Software sports a Zacks Rank #1 (Strong Buy), Agilent Technologies and America Movil carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Agilent Technologies has lost 7.3% in the year-to-date period. The long-term earnings growth rate for A is currently projected at 10%.
Asure Software has lost 11.3% in the year-to-date period. The long-term earnings growth rate for ASUR is currently projected at 14%.
America Movil has lost 5.3% in the year-to-date period. The long-term earnings growth rate for AMX is currently projected at 25.7%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Garmin (GRMN) Lifts Marine Segment With Signature 3i Speakers
Garmin (GRMN - Free Report) introduced the Signature Series 3i 8.8” wake tower marine speakers under its brand Fusion Entertainment.
The speakers come in Sports White and Sports Black, featuring a Sports Gray grille with a metallic paint finish.
The speakers offer high-quality audio, subsiding the engine noise. Moreover, these are fashioned with CURV cone technology, achieving superior sound and higher power output.
The latest marine speakers are compatible with a Fusion DSP-enabled stereo, including Apollo MS-RA770 and Fusion’s Apollo Series marine amplifiers.
With the Signature Series 3i marine speakers, Garmin aims to provide boaters with an enhanced audio experience.
This is expected to boost the adoption rate of Signature 3i speakers among people interested in water activities, thus contributing to top-line growth in the days ahead.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Move to Boost Prospects
The brand new Signature Series 3i marine speakers are likely to help Garmin expand its footprint in the booming marine audio system market.
The underlined market is witnessing significant growth worldwide owing to increasing demand for recreational boating activities.
The rise in recreational boating is prompting manufacturers to produce higher-quality audio systems with water- and ultraviolet-resistant features. This is fueling growth in the marine audio system market.
Per a Business Research Insights report, the said market is expected to hit $1.77 billion by 2027, witnessing a CAGR of 11.4% between 2022 and 2027.
Strong Marine Offerings
The introduction of the Signature Series 3i marine speakers bodes well for Garmin’s growing efforts to expand its marine portfolio.
Last month, Garmin unveiled the ECHOMAP UHD2 chartplotter series with high-contrast scanning sonar power, mapping and fish-finding features to help anglers with effective fishing.
GRMN’s unveiling of the LiveScope Plus System with a sharper resolution, reduced noise and the clearest images for recreational fishing remains noteworthy.
Further, Garmin offers Garmin Navionics+ and Garmin Navionics Vision+, thereby enhancing the navigation experience of mariners, boaters and anglers.
Strengthening the marine solutions portfolio will continue to bolster the performance of the marine segment, which became integral to GRMN.
This, in turn, is likely to aid Garmin in winning investors’ confidence in the near term.
The marine segment generated sales of $196.5 million, accounting for 17% of total third-quarter 2022 revenues.
Shares of GRMN have declined 32% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 36.7%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold). Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies (A - Free Report) , Asure Software (ASUR - Free Report) and America Movil (AMX - Free Report) . While Asure Software sports a Zacks Rank #1 (Strong Buy), Agilent Technologies and America Movil carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Agilent Technologies has lost 7.3% in the year-to-date period. The long-term earnings growth rate for A is currently projected at 10%.
Asure Software has lost 11.3% in the year-to-date period. The long-term earnings growth rate for ASUR is currently projected at 14%.
America Movil has lost 5.3% in the year-to-date period. The long-term earnings growth rate for AMX is currently projected at 25.7%.