Garmin Tumbles 3.11% on Mixed Signals Amid $300M in Volume 374th in Activity

Garmin Ltd. (GRMN) fell 3.11% on September 2, 2025, with a trading volume of $0.30 billion, ranking 374th in market activity. The stock’s decline followed mixed signals from earnings estimates, technical indicators, and institutional activity.

Analysts upgraded Garmin to a “Buy” on improved earnings estimates, reflecting optimism about its business fundamentals. Rising pro forma earnings and revenue growth in the second quarter of 2025 highlighted strong performance across key segments, including wearables and outdoor products. However, technical analysis suggested bearish momentum, with a Bollinger Bands Expanding Downward pattern and a Bearish Marubozu candle on the 15-minute chart indicating seller dominance.

Institutional investors increased stakes in Garmin during the first quarter, with Panagora Asset Management boosting its holdings by 144.9%. This followed broader institutional buying trends, as major firms like Vanguard and Invesco also added shares. Conversely, insider selling by executives, including a 22.04% reduction in shares by Cheng-Wei Wang, raised caution among investors.

Despite strong quarterly results—$2.17 in pro forma earnings and $1.81 billion in revenue—market sentiment remained cautious. Technical indicators and insider selling weighed on the stock, overshadowing positive earnings revisions and institutional confidence. The Zacks Rank upgrade to #2 (Buy) underscored earnings momentum but did not offset near-term bearish signals.

Backtest results for Zacks Rank #1 stocks showed an average annual return of +25% since 1988, highlighting the system’s historical effectiveness in capturing earnings-driven gains. Garmin’s placement in the top 20% of Zacks-covered stocks by estimate revisions suggests potential for market-beating returns, though immediate technical headwinds persist.