Intech Investment Management LLC Takes $278,000 Position in FARO Technologies, Inc. (NASDAQ:FARO)

Intech Investment Management LLC bought a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,968 shares of the scientific and technical instruments company’s stock, valued at approximately $278,000. Intech Investment Management LLC owned about 0.06% of FARO Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Needham Investment Management LLC raised 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 valued at $19,700,000 after acquiring an additional 171,300 shares during the period. Harvey Partners LLC raised its position in FARO Technologies by 17.8% in the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock worth $19,255,000 after purchasing an additional 152,000 shares during the period. Polar Asset Management Partners Inc. lifted its stake in 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 purchasing an additional 2,700 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of FARO Technologies by 4.4% during the third quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock valued at $8,633,000 after buying an additional 19,005 shares during the last quarter. Finally, Invenomic Capital Management LP raised its holdings 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 buying an additional 74,631 shares during the period. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Insider Activity

In other news, CFO Matthew Horwath sold 1,480 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $43,364.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yuval Wasserman sold 5,658 shares of the firm’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 sale, the director now directly owns 153,512 shares in the company, valued at approximately $4,812,601.20. The trade was a 3.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,755 shares of company stock worth $356,020. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FARO has been the subject of a number of recent analyst reports. StockNews.com cut FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 16th. Needham & Company LLC upped their price target on shares of FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Craig Hallum lifted their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

FARO Technologies Trading Up 1.3 %

FARO opened at $28.50 on Thursday. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $33.13. The company has a market capitalization of $540.99 million, a P/E ratio of -81.43 and a beta of 1.55. The stock’s fifty day moving average is $29.93 and its two-hundred day moving average is $25.12. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) 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 the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. The firm had revenue of $93.54 million during the quarter, compared to the consensus estimate of $91.40 million. During the same period in the previous year, the company posted $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.