Semanteon Capital Management LP Takes $317,000 Position in FARO Technologies, Inc. (NASDAQ:FARO)

Semanteon Capital Management LP acquired a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,081 shares of the scientific and technical instruments company’s stock, valued at approximately $317,000.

Several other institutional investors have also modified their holdings of the stock. Kent Lake Capital LLC increased its position in FARO Technologies by 23.8% during the third quarter. Kent Lake Capital LLC now owns 650,000 shares of the scientific and technical instruments company’s stock valued at $9,900,000 after acquiring an additional 125,000 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in FARO Technologies by 64.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 493,724 shares of the scientific and technical instruments company’s stock valued at $11,124,000 after purchasing an additional 193,757 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in FARO Technologies by 20.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 453,340 shares of the scientific and technical instruments company’s stock worth $6,904,000 after purchasing an additional 75,697 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in FARO Technologies by 1.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,109 shares of the scientific and technical instruments company’s stock worth $5,793,000 after purchasing an additional 4,610 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of FARO Technologies by 19.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 182,023 shares of the scientific and technical instruments company’s stock worth $4,101,000 after buying an additional 29,279 shares during the period. 97.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and set a $27.00 price objective on shares of FARO Technologies in a report on Thursday, February 29th.

FARO Technologies Trading Up 2.5 %

NASDAQ:FARO opened at $18.92 on Friday. FARO Technologies, Inc. has a one year low of $10.30 and a one year high of $24.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.00 and a current ratio of 2.31. The firm has a 50-day simple moving average of $20.73 and a 200-day simple moving average of $19.67.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Tuesday, February 27th. The scientific and technical instruments company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.31. FARO Technologies had a negative return on equity of 20.66% and a negative net margin of 15.77%. The company had revenue of $98.84 million for the quarter.

Insider Transactions at FARO Technologies

In related news, VP Jeffrey D. Sexton sold 1,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.06, for a total transaction of $30,090.00. Following the transaction, the vice president now directly owns 27,706 shares of the company’s stock, valued at approximately $555,782.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

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.