8,700 Shares in FARO Technologies, Inc. (NASDAQ:FARO) Purchased by Louisiana State Employees Retirement System

anlene
5 Min Read

FARO Technologies logoLouisiana State Employees Retirement System acquired a new stake in FARO Technologies, Inc. (NASDAQ:FARO – Get Rating) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 8,700 shares of the scientific and technical instruments company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its position in FARO Technologies by 26.6% during the 3rd quarter. ARK Investment Management LLC now owns 234,583 shares of the scientific and technical instruments company’s stock worth $6,437,000 after purchasing an additional 49,231 shares during the period. Moody National Bank Trust Division acquired a new position in FARO Technologies during the 3rd quarter worth approximately $329,000. Confluence Investment Management LLC increased its position in FARO Technologies by 1.2% during the 3rd quarter. Confluence Investment Management LLC now owns 89,981 shares of the scientific and technical instruments company’s stock worth $2,469,000 after purchasing an additional 1,098 shares during the period. Federated Hermes Inc. acquired a new position in FARO Technologies during the 2nd quarter worth approximately $7,528,000. Finally, Legal & General Group Plc increased its position in FARO Technologies by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 358,607 shares of the scientific and technical instruments company’s stock worth $11,056,000 after purchasing an additional 12,410 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

Wall Street Analysts Forecast Growth

FARO has been the topic of several recent analyst reports. StockNews.com initiated coverage on FARO Technologies in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Needham & Company LLC lowered their price target on FARO Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd.

FARO Technologies Price Performance

Want More Great Investment Ideas?

FARO opened at $34.15 on Friday. The stock has a market cap of $641.34 million, a P/E ratio of -11.09 and a beta of 1.35. The stock’s 50 day simple moving average is $30.99 and its 200 day simple moving average is $31.14. FARO Technologies, Inc. has a 1-year low of $25.20 and a 1-year high of $64.77.

FARO Technologies (NASDAQ:FARO – Get Rating) last announced its earnings results on Wednesday, November 2nd. The scientific and technical instruments company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $85.33 million for the quarter. FARO Technologies has a negative return on equity of 18.13% and a negative net margin of 16.44%.

FARO Technologies Company Profile

(Get Rating)

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions in North America, South America, Europe, the Middle East, Africa, and the Asia-Pacific. 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 quickly and accurately position components; and FARO Laser Scanning Portfolio to measure and collect a cloud of data points.

Want to see what other hedge funds are holding FARO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FARO Technologies, Inc. (NASDAQ:FARO – Get Rating).

Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

Receive News & Ratings for FARO Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for FARO Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.

Share this Article