6a00d83451bb7069e20133ecc8fc95970b-800wi-300x275(GRMN) is an interesting potential play on the personal navigation market.  GRMN enjoys strong margins, pays an impressive 5% yield, consistently delivers healthy profits, and has piled up plenty of cash with no-long term debt.  What’s not to like?

Competition from Google (GOOG) and Apple (AAPL) have cut into sales in Garmin’s main business, as revenue declined in 2012.  If it’s a growth play you are looking for, Garmin’s short-term potential isn’t that good. But, Garmin’s healthy financial position makes this stock a reasonable dividend play and the company should continue to return capital to shareholders.

 

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