FARO Technologies, Inc. (FARO) Stake Lifted by Global X MANAGEMENT CO LLC

Global X MANAGEMENT CO LLC increased its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 159.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,968 shares of the scientific and technical instruments company’s stock after buying an additional 49,783 shares during the quarter. Global X MANAGEMENT CO LLC owned about 0.48% of FARO Technologies worth $3,097,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FARO. State of Alaska Department of Revenue grew its stake in 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 buying an additional 1,454 shares during the last quarter. Victory Capital Management Inc. grew its stake in FARO Technologies by 17.7% during 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 buying an additional 572 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in FARO Technologies by 3.4% during 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 buying an additional 130 shares during the last quarter. Aperio Group LLC grew its stake in FARO Technologies by 2.6% during the 2nd quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock worth $224,000 after buying an additional 150 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in FARO Technologies by 71.8% during 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 buying an additional 2,490 shares during the last quarter. Hedge funds and other institutional investors own 93.47% of the company’s stock.

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FARO has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating and set a $52.00 price target (up previously from $42.00) on shares of FARO Technologies in a research note on Monday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price objective (up from $39.00) on shares of FARO Technologies in a research report on Sunday, October 29th. Noble Financial reaffirmed a “buy” rating on shares of FARO Technologies in a research report on Thursday, August 3rd. Craig Hallum set a $55.00 price objective on FARO Technologies and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Zacks Investment Research raised FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. FARO Technologies presently has a consensus rating of “Hold” and a consensus price target of $50.33.

FARO Technologies, Inc. (NASDAQ:FARO) opened at $52.10 on Tuesday. FARO Technologies, Inc. has a 1-year low of $31.90 and a 1-year high of $54.40.

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

FARO Technologies Company 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.

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

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