Voya Investment Management LLC decreased its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 37.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,976 shares of the scientific and technical instruments company's stock after selling 7,044 shares during the quarter. Voya Investment Management LLC owned approximately 0.06% of FARO Technologies worth $304,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in FARO. T. Rowe Price Investment Management Inc. acquired a new stake in shares of FARO Technologies in the fourth quarter valued at approximately $10,849,000. Arrowstreet Capital Limited Partnership raised its stake in FARO Technologies by 244.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 213,423 shares of the scientific and technical instruments company's stock valued at $5,412,000 after acquiring an additional 151,382 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in FARO Technologies during the 4th quarter valued at $3,562,000. Hodges Capital Management Inc. bought a new position in FARO Technologies during the fourth quarter worth $3,144,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of FARO Technologies by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 744,222 shares of the scientific and technical instruments company's stock valued at $18,874,000 after purchasing an additional 62,305 shares during the last quarter. Institutional investors own 97.19% of the company's stock.
Insider Activity
In related news, CEO Peter James Lau sold 4,617 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $135,278.10. Following the completion of the sale, the chief executive officer now owns 160,076 shares of the company's stock, valued at $4,690,226.80. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Horwath sold 1,480 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the sale, the chief financial officer now owns 39,430 shares in the company, valued at $1,155,299. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on FARO. Needham & Company LLC cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Craig Hallum cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, StockNews.com started coverage on FARO Technologies in a report on Friday. They set a "buy" rating for the company.
View Our Latest Stock Report on FARO
FARO Technologies Stock Performance
Shares of FARO Technologies stock traded up $0.05 during trading on Friday, reaching $42.29. The company's stock had a trading volume of 299,487 shares, compared to its average volume of 272,980. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The business's 50-day moving average price is $29.71 and its 200-day moving average price is $28.16. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $42.64. The firm has a market cap of $813.07 million, a PE ratio of -120.81 and a beta of 1.49.
FARO Technologies (NASDAQ:FARO - Get Free Report) last announced its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. The company had revenue of $93.54 million for the quarter, compared to analysts' expectations of $91.40 million. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. During the same period last year, the firm earned $0.36 earnings per share.
About FARO Technologies
(
Free Report)
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.
Further Reading
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