Tag Archive: zack’s

Expect Garmin Handheld GPS units to get cheaper…maybe

Zacks Investment Research has announced they have downgraded Garmin Ltd to Underperform, citing continued deterioration of the PND (portable navigation device) market. Garmin generated around 64% of its third quarter revenue from the auto/mobile segment, the bulk of which comes from PNDs. Segment revenues dropped to around $442 million in the last quarter from around …

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