Renaissance Technologies LLC Grows Stock Holdings in FARO Technologies, Inc. (NASDAQ:FARO)

Renaissance Technologies LLC lifted its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 32.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 225,307 shares of the scientific and technical instruments company’s stock after purchasing an additional 54,865 shares during the period. Renaissance Technologies LLC owned 1.17% of FARO Technologies worth $3,605,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CWM LLC lifted its holdings in FARO Technologies by 343.6% in the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 1,828 shares during the period. American Century Companies Inc. boosted its holdings in FARO Technologies by 16.7% in the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock valued at $334,000 after acquiring an additional 2,993 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in FARO Technologies during the 4th quarter valued at $618,000. Price T Rowe Associates Inc. MD increased its position in FARO Technologies by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock valued at $642,000 after purchasing an additional 897 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of FARO Technologies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock worth $1,221,000 after purchasing an additional 4,174 shares during the period. 97.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Craig Hallum decreased their target price on FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Insider Transactions at FARO Technologies

In other news, CEO Peter James Lau sold 5,435 shares of FARO Technologies stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the completion of the transaction, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

FARO Technologies Stock Up 1.1 %

NASDAQ:FARO opened at $19.06 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.01. The firm’s 50-day moving average price is $16.85 and its 200-day moving average price is $17.96. The company has a market capitalization of $366.07 million, a PE ratio of -8.47 and a beta of 1.25. FARO Technologies, Inc. has a 1-year low of $12.34 and a 1-year high of $24.80.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.14. The firm had revenue of $82.09 million during the quarter. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.