Bank of New York Mellon Corp Buys 3,373 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Bank of New York Mellon Corp lifted its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 5.4% during the fourth quarter, Holdings Channel reports. The fund owned 65,722 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,373 shares during the quarter. Bank of New York Mellon Corp’s holdings in FARO Technologies were worth $1,667,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FARO. SG Americas Securities LLC raised its stake in shares of FARO Technologies by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after acquiring an additional 966 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of FARO Technologies in the 3rd quarter valued at approximately $213,000. Range Financial Group LLC bought a new position in shares of FARO Technologies in the 4th quarter valued at approximately $374,000. Tectonic Advisors LLC bought a new position in shares of FARO Technologies in the 4th quarter valued at approximately $536,000. Finally, Quest Partners LLC grew its holdings in FARO Technologies by 196.7% in the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock valued at $605,000 after buying an additional 20,963 shares during the last quarter. 97.19% of the stock is owned by institutional investors.

FARO Technologies Price Performance

Shares of FARO stock opened at $28.21 on Friday. The stock’s fifty day simple moving average is $29.86 and its 200 day simple moving average is $24.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The firm has a market cap of $535.48 million, a price-to-earnings ratio of -80.60 and a beta of 1.55. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $33.13.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The business had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. During the same quarter in the previous year, the firm earned $0.36 EPS.

Insider Activity at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of FARO Technologies stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $135,278.10. Following the completion of the transaction, the chief executive officer now owns 160,076 shares in the company, valued at approximately $4,690,226.80. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of FARO Technologies stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $43,364.00. Following the completion of the transaction, the chief financial officer now owns 39,430 shares of the company’s stock, valued at approximately $1,155,299. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,755 shares of company stock valued at $356,020 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FARO. Craig Hallum raised their target price on FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC lifted their price objective on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, StockNews.com lowered FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 16th.

FARO Technologies Profile

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.