SG Capital Management LLC Acquires Shares of 5,969 FARO Technologies, Inc. (FARO)

SG Capital Management LLC acquired a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,969 shares of the scientific and technical instruments company’s stock, valued at approximately $384,000.

Several other large investors have also added to or reduced their stakes in FARO. SG Americas Securities LLC bought a new position in FARO Technologies during the 2nd quarter valued at about $233,000. Alps Advisors Inc. bought a new position in FARO Technologies during the 2nd quarter valued at about $286,000. Jane Street Group LLC bought a new position in FARO Technologies during the 2nd quarter valued at about $302,000. Russell Investments Group Ltd. lifted its holdings in FARO Technologies by 704.1% during the 1st quarter. Russell Investments Group Ltd. now owns 5,862 shares of the scientific and technical instruments company’s stock valued at $342,000 after purchasing an additional 5,133 shares during the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in FARO Technologies by 15.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 7,841 shares of the scientific and technical instruments company’s stock valued at $426,000 after purchasing an additional 1,055 shares during the last quarter. 93.84% of the stock is owned by institutional investors.

FARO opened at $52.20 on Friday. The stock has a market capitalization of $899.70 million, a price-to-earnings ratio of 75.70 and a beta of 1.55. FARO Technologies, Inc. has a 1-year low of $37.30 and a 1-year high of $70.20.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Wednesday, July 25th. The scientific and technical instruments company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $98.24 million during the quarter, compared to analysts’ expectations of $96.08 million. FARO Technologies had a negative net margin of 2.00% and a positive return on equity of 3.23%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. Equities research analysts forecast that FARO Technologies, Inc. will post 0.83 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the stock. BidaskClub downgraded shares of FARO Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, October 13th. ValuEngine downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, July 30th. Finally, Craig Hallum lifted their price target on shares of FARO Technologies from $64.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. FARO Technologies presently has a consensus rating of “Hold” and a consensus price target of $65.60.

In other FARO Technologies news, CEO Simon Raab sold 5,856 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $66.36, for a total value of $388,604.16. Following the completion of the sale, the chief executive officer now owns 30,047 shares in the company, valued at approximately $1,993,918.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kathleen Hall sold 26,252 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $67.50, for a total transaction of $1,772,010.00. Following the completion of the sale, the chief operating officer now owns 15,030 shares of the company’s stock, valued at approximately $1,014,525. The disclosure for this sale can be found here. Insiders sold a total of 123,121 shares of company stock valued at $8,223,581 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

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

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