Charles Schwab Investment Management Inc. Has $5.62 Million Stake in FARO Technologies, Inc. (NASDAQ:FARO)

Charles Schwab Investment Management Inc. lowered its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,456 shares of the scientific and technical instruments company’s stock after selling 1,103 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.17% of FARO Technologies worth $5,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in FARO Technologies during the 4th quarter worth approximately $716,000. Bank of New York Mellon Corp grew its position in FARO Technologies by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 65,722 shares of the scientific and technical instruments company’s stock valued at $1,667,000 after purchasing an additional 3,373 shares in the last quarter. Rhumbline Advisers increased its stake in FARO Technologies by 4.5% in the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after buying an additional 1,333 shares during the last quarter. Tectonic Advisors LLC bought a new stake in FARO Technologies during the 4th quarter worth about $536,000. Finally, Hodges Capital Management Inc. acquired a new position in shares of FARO Technologies during the 4th quarter worth about $3,144,000. 97.19% of the stock is owned by institutional investors.

Insider Activity

In related news, 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 transaction of $177,378.30. Following the transaction, the director now directly owns 153,512 shares of the company’s stock, valued at approximately $4,812,601.20. This trade represents a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief financial officer now directly owns 39,430 shares in the company, valued at $1,155,299. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,755 shares of company stock valued at $356,020. 2.10% of the stock is owned by insiders.

FARO Technologies Stock Performance

FARO opened at $28.14 on Wednesday. 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, Inc. has a 12-month low of $13.52 and a 12-month high of $33.13. The business has a 50 day moving average of $29.94 and a 200-day moving average of $25.09. The stock has a market cap of $534.15 million, a price-to-earnings ratio of -80.40 and a beta of 1.55.

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

Wall Street Analyst Weigh In

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

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.