FARO Technologies, Inc. (FARO) Position Held by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System continued to hold its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the second quarter, Holdings Channel reports. The fund owned 6,800 shares of the scientific and technical instruments company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in FARO Technologies were worth $257,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Victory Capital Management Inc. acquired a new stake in shares of FARO Technologies during the first quarter valued at about $116,000. Prudential Financial Inc. raised its position in shares of FARO Technologies by 0.7% in the first quarter. Prudential Financial Inc. now owns 28,690 shares of the scientific and technical instruments company’s stock valued at $1,026,000 after buying an additional 200 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of 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 last quarter. State of Tennessee Treasury Department raised its position in shares of 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 valued at $582,000 after buying an additional 2,457 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its position in shares of FARO Technologies by 5.6% in the first quarter. Hodges Capital Management Inc. now owns 504,624 shares of the scientific and technical instruments company’s stock valued at $18,040,000 after buying an additional 26,835 shares during the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Shares of FARO Technologies, Inc. (NASDAQ:FARO) traded up 1.23% on Friday, hitting $33.00. The stock had a trading volume of 48,498 shares. FARO Technologies, Inc. has a one year low of $29.00 and a one year high of $40.60. The firm’s 50 day moving average is $37.11 and its 200-day moving average is $36.00. The stock’s market capitalization is $551.36 million.

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

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Several research analysts have weighed in on the company. Zacks Investment Research lowered FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. ValuEngine raised FARO Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. BidaskClub lowered FARO Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Needham & Company LLC upped their target price on FARO Technologies from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 30th. Finally, Gabelli lowered FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Two 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. FARO Technologies 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.

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

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