Royce & Associates LP raised its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 701,900 shares of the scientific and technical instruments company’s stock after buying an additional 11,500 shares during the period. Royce & Associates LP owned 4.20% of FARO Technologies worth $26,532,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new position in FARO Technologies during the first quarter valued at approximately $116,000. State of Alaska Department of Revenue raised its position in FARO Technologies by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 3,294 shares of the scientific and technical instruments company’s stock valued at $124,000 after buying an additional 1,454 shares during the period. Mason Street Advisors LLC raised its position in FARO Technologies by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,901 shares of the scientific and technical instruments company’s stock valued at $139,000 after buying an additional 257 shares during the period. Municipal Employees Retirement System of Michigan raised its position in FARO Technologies by 3.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock valued at $149,000 after buying an additional 130 shares during the period. Finally, Karp Capital Management Corp acquired a new position in FARO Technologies during the first quarter valued at approximately $207,000. Institutional investors and hedge funds own 94.64% of the company’s stock.

Shares of FARO Technologies, Inc. (NASDAQ FARO) opened at 33.70 on Monday. The stock has a 50 day moving average of $36.40 and a 200 day moving average of $35.81. FARO Technologies, Inc. has a 52 week low of $29.00 and a 52 week high of $40.60. The stock’s market cap is $563.06 million.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.34. The company had revenue of $82.68 million for the quarter, compared to analysts’ expectations of $87.65 million. FARO Technologies had a negative return on equity of 0.13% and a negative net margin of 0.13%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. On average, analysts expect that FARO Technologies, Inc. will post ($0.13) earnings per share for the current year.

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Several equities analysts have commented on the stock. ValuEngine upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. BidaskClub lowered shares of FARO Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Needham & Company LLC increased their target price on shares of FARO Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Gabelli downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. FARO Technologies presently has a consensus rating of “Hold” and an average target price of $40.60.

About FARO Technologies

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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