Royce & Associates LP Sells 67,792 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Royce & Associates LP lessened its position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,341,239 shares of the scientific and technical instruments company's stock after selling 67,792 shares during the quarter. Royce & Associates LP owned about 7.09% of FARO Technologies worth $34,014,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Needham Investment Management LLC lifted its position in shares of FARO Technologies by 20.0% during the 3rd 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 purchasing an additional 171,300 shares during the last quarter. Harvey Partners LLC lifted its holdings in shares of FARO Technologies by 17.8% during 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 buying an additional 152,000 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in shares of FARO Technologies in the fourth quarter valued at approximately $3,144,000. 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 during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in FARO Technologies during the fourth quarter worth $716,000. 97.19% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, Director Yuval Wasserman sold 5,658 shares of the business'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 transaction, the director now directly owns 153,512 shares in the company, valued at $4,812,601.20. The trade was a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the sale, the chief financial officer now directly owns 39,430 shares of the company's stock, valued at approximately $1,155,299. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,755 shares of company stock worth $356,020 over the last three months. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FARO. Craig Hallum raised their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. StockNews.com downgraded FARO Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Finally, Needham & Company LLC raised their price objective on FARO Technologies from $34.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th.

FARO Technologies Price Performance

Shares of NASDAQ:FARO traded up $0.22 during midday trading on Thursday, reaching $29.46. 101,377 shares of the company's stock were exchanged, compared to its average volume of 168,312. The firm has a market capitalization of $559.21 million, a PE ratio of -84.17 and a beta of 1.55. The company's 50 day simple moving average is $29.73 and its two-hundred day simple moving average is $24.72. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $33.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17.

FARO Technologies (NASDAQ:FARO - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $93.54 million for the quarter, compared to the consensus estimate of $91.40 million. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. During the same period in the previous year, the business earned $0.36 earnings per share.

FARO Technologies 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.