FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in FARO Technologies, Inc. (NASDAQ:FARO) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,341,239 shares of the scientific and technical instruments company’s stock after selling 67,792 shares during the period. Royce & Associates LP owned about 0.07% of FARO Technologies worth $34,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Needham Investment Management LLC grew its stake in shares of FARO Technologies by 20.0% in the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock worth $19,700,000 after acquiring an additional 171,300 shares in the last quarter. Harvey Partners LLC grew its stake in shares of FARO Technologies by 17.8% in the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock worth $19,255,000 after acquiring an additional 152,000 shares in the last quarter. Polar Asset Management Partners Inc. grew its stake in shares of FARO Technologies by 0.4% in the third quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company’s stock worth $12,954,000 after acquiring an additional 2,700 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of FARO Technologies by 4.4% in the third quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock worth $8,633,000 after acquiring an additional 19,005 shares in the last quarter. Finally, Invenomic Capital Management LP grew its stake in shares of FARO Technologies by 23.2% in the third quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company’s stock worth $7,595,000 after acquiring an additional 74,631 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FARO. Needham & Company LLC boosted their target price on shares of FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Craig Hallum boosted their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, StockNews.com downgraded shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

Insider Activity at FARO Technologies

In other news, Director Yuval Wasserman sold 5,658 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the sale, the director now directly owns 153,512 shares of the company’s stock, valued at approximately $4,812,601.20. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $43,364.00. Following the completion of the sale, the chief financial officer now directly owns 39,430 shares of the company’s stock, valued at $1,155,299. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,755 shares of company stock valued at $356,020 over the last ninety days. Insiders own 2.10% of the company’s stock.

FARO Technologies Stock Performance

Shares of FARO stock opened at $29.43 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $29.56 and a 200 day moving average price of $24.48. The company has a market cap of $558.64 million, a P/E ratio of -84.08 and a beta of 1.55. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $33.13.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The firm had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. During the same period in the previous year, the company earned $0.36 earnings per share.

About FARO Technologies

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.