California Public Employees Retirement System Has $1.11 Million Position in FARO Technologies, Inc. (NASDAQ:FARO)

California Public Employees Retirement System decreased its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,000 shares of the scientific and technical instruments company’s stock after selling 1,400 shares during the period. California Public Employees Retirement System owned about 0.19% of FARO Technologies worth $1,108,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in FARO Technologies by 35.4% in the first quarter. Fisher Asset Management LLC now owns 49,736 shares of the scientific and technical instruments company’s stock worth $1,778,000 after buying an additional 12,998 shares during the period. State of Tennessee Treasury Department increased its position in FARO Technologies by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 16,283 shares of the scientific and technical instruments company’s stock worth $582,000 after buying an additional 2,457 shares during the period. Comerica Bank increased its position in FARO Technologies by 3.7% in the first quarter. Comerica Bank now owns 18,419 shares of the scientific and technical instruments company’s stock worth $689,000 after buying an additional 664 shares during the period. Norges Bank bought a new position in FARO Technologies during the fourth quarter worth about $13,371,000. Finally, Vident Investment Advisory LLC increased its position in FARO Technologies by 193.0% in the first quarter. Vident Investment Advisory LLC now owns 206,508 shares of the scientific and technical instruments company’s stock worth $7,383,000 after buying an additional 136,026 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

FARO Technologies, Inc. (FARO) traded up 0.76% during trading on Friday, reaching $33.10. The company’s stock had a trading volume of 4,645 shares. The company has a 50-day moving average of $37.66 and a 200 day moving average of $36.15. The firm’s market cap is $553.03 million. FARO Technologies, Inc. has a one year low of $29.00 and a one year high of $40.60.

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

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A number of equities analysts have issued reports on FARO shares. Zacks Investment Research downgraded FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Craig Hallum started coverage on FARO Technologies in a research note on Tuesday, June 27th. They set a “buy” rating and a $45.00 price target for the company. BidaskClub downgraded FARO Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine downgraded FARO Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Finally, Needham & Company LLC lifted their price target on FARO Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $40.60.

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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