Parametric Portfolio Associates LLC Acquires 5,925 Shares of FARO Technologies, Inc. (FARO)

Parametric Portfolio Associates LLC lifted its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 20.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,160 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,925 shares during the period. Parametric Portfolio Associates LLC owned about 0.21% of FARO Technologies worth $1,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of FARO Technologies by 79.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,294 shares of the scientific and technical instruments company’s stock worth $124,000 after purchasing an additional 1,454 shares in the last quarter. Victory Capital Management Inc. grew its stake in FARO Technologies by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,811 shares of the scientific and technical instruments company’s stock worth $144,000 after acquiring an additional 572 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in FARO Technologies by 3.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock worth $149,000 after acquiring an additional 130 shares during the period. Aperio Group LLC grew its stake in FARO Technologies by 2.6% in the 2nd quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock worth $224,000 after acquiring an additional 150 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in FARO Technologies by 71.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,956 shares of the scientific and technical instruments company’s stock worth $225,000 after acquiring an additional 2,490 shares during the period. 93.47% of the stock is owned by institutional investors and hedge funds.

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FARO Technologies, Inc. (FARO) opened at $51.95 on Wednesday. FARO Technologies, Inc. has a 1-year low of $31.90 and a 1-year high of $54.40.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.14. The company had revenue of $90.25 million for the quarter, compared to analyst estimates of $89.34 million. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. FARO Technologies’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. equities research analysts expect that FARO Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

FARO has been the subject of several recent analyst reports. Zacks Investment Research raised shares of FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 target price (up from $39.00) on shares of FARO Technologies in a research note on Sunday, October 29th. Craig Hallum set a $55.00 target price on shares of FARO Technologies and gave the stock a “buy” rating in a research note on Monday, October 30th. ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus set a $33.00 target price on shares of FARO Technologies and gave the stock a “hold” rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. FARO Technologies currently has a consensus rating of “Hold” and an average target price of $50.33.

FARO Technologies Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

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

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