2 Stocks To Buy To Capitalize On The Internet Of Things (IoT) Revolution

On March 31, Garmin International Inc., a GRMN unit, unveiled new features to the Garmin Pilot app for iOS mobile device users, such as generating a graphical weather briefing from Leidos Flight Service, and plus graphical NAVAID NOTAMs to depict when a NAVAID is out of service. GRMN also expanded its strategic relationship with Amazon (AMZN) in March,  integrating Alexa Custom Assistant into GRMN’s in-vehicle OEM infotainment systems.

The company’s net sales increased 22.6% year-over-year to $1.35 billion for the fourth quarter ended December 26. GRMN’s gross profit has increased 23.7% year-over-year to $790.98 million. Its operating income was  $371.27 million, which represents a 34.3% improvement year-over-year, and its non-GAAP net income was $333.45 million, up 35.3% year-over-year. Also, the company’s non-GAAP EPS of $1.73 represents an improvement of 34.1% from the prior year period.

A  consensus EPS estimate of $1.18 for the next quarter, ending June 30,  represents a 29.7%  improvement year-over-year. The company surpassed consensus EPS estimates in each of the trailing four quarters. The consensus revenue estimate of $1.06 billion for the next quarter represents a 21.6% rise on a year-over-year basis.

The stock has rallied 75.9% over the past year to close yesterday’s trading session at $131.85.

GRMN’s POWR Ratings reflect this promising outlook. The stock has an overall B rating, which equates to Buy in our proprietary ratings system.

The stock has a B grade for Stability, Sentiment, and Quality also. In addition to the POWR Ratings grades we’ve  just highlighted, one can see GRMN’s ratings for Growth, Value, and Momentum here.

GRMN is ranked #15 of 48 stocks in the B-rated Technology – Hardware industry.

The POWR Ratings are calculated by considering 118 different factors with each factor weighted to an optimal degree.

SWKS shares were unchanged in after-hours trading Thursday. Year-to-date, SWKS has gained 23.10%, versus a 7.50% rise in the benchmark S&P 500 index during the same period.

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