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Garmin (GRMN) Boosts Marine Offerings With New Chartplotters
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Garmin (GRMN - Free Report) has been continuously putting efforts into strengthening its portfolio of marine offerings.
This is evident from its latest move of unveiling a new ECHOMAP UHD2 chartplotter series, which includes advanced features, and a 6”, 7” or 9” bright, sunlight-readable touchscreen display.
The new chartplotters are equipped with preloaded Garmin Navionics+ mapping, Ultra High-Definition sonar, wireless networking for data sharing and support for LiveScope live-scanning sonar.
More precisely, these chartplotters are comprised of GT54UHD or GT56UHD transducer, which offer absolutely clear imaging of fish and structure.
Further, Garmin Navionics+ mapping assists users on the water by directing them to areas where fish may be hiding.
With these useful features, Garmin is likely to see a strong adoption of the new ECHOMAP UHD2 chartplotter by boaters as well as anglers.
The latest move bodes well for the company’s growing efforts toward expanding its marine offerings as well as the ECHOMAP UHD2 chartplotter family.
Apart from the introduction of the new ECHOMAP UHD2 chartplotter series, the company recently unveiled the ECHOMAP UHD2 chartplotter series with high-contrast scanning sonar power, mapping and fish-finding features to help anglers with effective fishing.
Further, it introduced the Signature Series 3i 8.8” wake tower marine speakers under its brand Fusion Entertainment.
Additionally, GRMN’s unveiling of the LiveScope Plus System with a sharper resolution, reduced noise and the clearest images for recreational fishing remains noteworthy.
To Conclude
Strengthening the marine solutions portfolio will continue to bolster the performance of the marine segment, which has become an integral part of GRMN.
The marine segment generated sales of $196.5 million, accounting for 17% of total third-quarter 2022 revenues. However, the figure declined 5% on a year over year basis.
Pandemic-led supply-chain disruptions are likely to continue impacting the segment negatively in the near term.
Shares of GRMN have declined 25.8% over the past one year against the industry’s decline of 31%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks (ANET - Free Report) , ASML Holding (ASML - Free Report) and Agilent technologies (A - Free Report) . While Arista Networks and ASML Holding sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 11.4% in the past year. The long-term earnings growth rate for ANET is currently projected at 17.5%.
ASML Holding has lost 11.4% in the past year. The long-term earnings growth rate for ASML is currently projected at 23.74%.
Agilent has gained 8.5% in the past year. A’s long-term earnings growth rate is currently projected at 10%.
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Garmin (GRMN) Boosts Marine Offerings With New Chartplotters
Garmin (GRMN - Free Report) has been continuously putting efforts into strengthening its portfolio of marine offerings.
This is evident from its latest move of unveiling a new ECHOMAP UHD2 chartplotter series, which includes advanced features, and a 6”, 7” or 9” bright, sunlight-readable touchscreen display.
The new chartplotters are equipped with preloaded Garmin Navionics+ mapping, Ultra High-Definition sonar, wireless networking for data sharing and support for LiveScope live-scanning sonar.
More precisely, these chartplotters are comprised of GT54UHD or GT56UHD transducer, which offer absolutely clear imaging of fish and structure.
Further, Garmin Navionics+ mapping assists users on the water by directing them to areas where fish may be hiding.
With these useful features, Garmin is likely to see a strong adoption of the new ECHOMAP UHD2 chartplotter by boaters as well as anglers.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Expanding Marine Offerings
The latest move bodes well for the company’s growing efforts toward expanding its marine offerings as well as the ECHOMAP UHD2 chartplotter family.
Apart from the introduction of the new ECHOMAP UHD2 chartplotter series, the company recently unveiled the ECHOMAP UHD2 chartplotter series with high-contrast scanning sonar power, mapping and fish-finding features to help anglers with effective fishing.
Further, it introduced the Signature Series 3i 8.8” wake tower marine speakers under its brand Fusion Entertainment.
Additionally, GRMN’s unveiling of the LiveScope Plus System with a sharper resolution, reduced noise and the clearest images for recreational fishing remains noteworthy.
To Conclude
Strengthening the marine solutions portfolio will continue to bolster the performance of the marine segment, which has become an integral part of GRMN.
The marine segment generated sales of $196.5 million, accounting for 17% of total third-quarter 2022 revenues. However, the figure declined 5% on a year over year basis.
Pandemic-led supply-chain disruptions are likely to continue impacting the segment negatively in the near term.
Shares of GRMN have declined 25.8% over the past one year against the industry’s decline of 31%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks (ANET - Free Report) , ASML Holding (ASML - Free Report) and Agilent technologies (A - Free Report) . While Arista Networks and ASML Holding sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 11.4% in the past year. The long-term earnings growth rate for ANET is currently projected at 17.5%.
ASML Holding has lost 11.4% in the past year. The long-term earnings growth rate for ASML is currently projected at 23.74%.
Agilent has gained 8.5% in the past year. A’s long-term earnings growth rate is currently projected at 10%.