FARO Technologies, Inc. (NASDAQ:FARO) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,722 shares of the scientific and technical instruments company’s stock after buying an additional 3,373 shares during the quarter. Bank of New York Mellon Corp owned 0.35% of FARO Technologies worth $1,667,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FARO. Needham Investment Management LLC boosted its stake in FARO Technologies by 20.0% during 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 buying an additional 171,300 shares in the last quarter. Harvey Partners LLC boosted its stake in 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 valued at $19,255,000 after buying an additional 152,000 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of FARO Technologies in the 4th quarter valued at $3,144,000. Invenomic Capital Management LP boosted its position in shares of FARO Technologies by 23.2% in the 3rd quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company’s stock valued at $7,595,000 after purchasing an additional 74,631 shares during the period. Finally, Tectonic Advisors LLC acquired a new position in shares of FARO Technologies in the 4th quarter valued at $536,000. Institutional investors own 97.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Yuval Wasserman sold 5,658 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction 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 $4,812,601.20. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a document filed 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 dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $43,364.00. Following the sale, the chief financial officer now directly owns 39,430 shares of the company’s stock, valued at $1,155,299. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,755 shares of company stock valued at $356,020. Corporate insiders own 2.10% of the company’s stock.

FARO Technologies Stock Down 4.2 %

Shares of FARO Technologies stock opened at $28.21 on Friday. The stock has a 50-day moving average price of $29.86 and a 200 day moving average price of $24.87. The company has a market cap of $535.48 million, a P/E ratio of -80.60 and a beta of 1.55. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a 1 year low of $13.52 and a 1 year high of $33.13.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The firm had revenue of $93.54 million during 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 prior year, the business earned $0.36 EPS.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Needham & Company LLC increased their price target on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. StockNews.com lowered FARO Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 16th. Finally, Craig Hallum increased their price target on FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

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.