Vident Investment Advisory LLC Acquires 217,544 Shares of FARO Technologies, Inc. (FARO)

Vident Investment Advisory LLC grew its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 62.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 564,729 shares of the scientific and technical instruments company’s stock after buying an additional 217,544 shares during the quarter. FARO Technologies accounts for approximately 1.2% of Vident Investment Advisory LLC’s holdings, making the stock its 11th biggest holding. Vident Investment Advisory LLC owned approximately 3.38% of FARO Technologies worth $21,601,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue grew its stake in FARO Technologies by 79.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,294 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 1,454 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of FARO Technologies by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,811 shares of the scientific and technical instruments company’s stock valued at $144,000 after purchasing an additional 572 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake 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 acquiring an additional 130 shares in the last quarter. Aperio Group LLC boosted its stake in FARO Technologies by 2.6% in the second quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock valued at $224,000 after acquiring an additional 150 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in FARO Technologies by 71.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,956 shares of the scientific and technical instruments company’s stock valued at $225,000 after acquiring an additional 2,490 shares in the last quarter. Hedge funds and other institutional investors own 97.62% of the company’s stock.

A number of research analysts have issued reports on the stock. Stifel Nicolaus set a $33.00 price target on shares of FARO Technologies and gave the stock a “hold” rating in a report on Friday, October 6th. Canaccord Genuity reissued a “buy” rating and set a $52.00 target price (up previously from $42.00) on shares of FARO Technologies in a report on Monday, October 30th. Zacks Investment Research raised shares of FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $53.00 target price (up previously from $39.00) on shares of FARO Technologies in a report on Sunday, October 29th. Finally, Craig Hallum set a $60.00 price objective on shares of FARO Technologies and gave the company a “buy” rating in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $51.17.

FARO Technologies, Inc. (NASDAQ:FARO) opened at $51.00 on Friday. FARO Technologies, Inc. has a twelve month low of $31.90 and a twelve month high of $54.40.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.14. The company had revenue of $90.25 million during the quarter, compared to the consensus estimate of $89.34 million. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. FARO Technologies’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. analysts anticipate that FARO Technologies, Inc. will post 0.1 earnings per share for the current year.

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FARO Technologies 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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