Royce & Associates LP Buys 234,650 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Royce & Associates LP lifted its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 20.0% in the third quarter, HoldingsChannel.com reports. The fund owned 1,409,031 shares of the scientific and technical instruments company’s stock after purchasing an additional 234,650 shares during the period. Royce & Associates LP owned 0.07% of FARO Technologies worth $26,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kennedy Capital Management LLC grew its position in FARO Technologies by 105.1% during the first quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock valued at $9,413,000 after buying an additional 224,273 shares during the period. Swedbank AB bought a new stake in FARO Technologies during the first quarter valued at approximately $3,226,000. Acadian Asset Management LLC grew its position in FARO Technologies by 136.2% during the first quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock valued at $3,653,000 after buying an additional 97,969 shares during the period. Divisar Capital Management LLC grew its position in FARO Technologies by 5.1% during the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock valued at $29,420,000 after buying an additional 90,000 shares during the period. Finally, Vanguard Group Inc. grew its position in FARO Technologies by 4.2% during the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock valued at $34,191,000 after buying an additional 64,095 shares during the period. 97.19% of the stock is currently owned by institutional investors.

Insider Transactions at FARO Technologies

In other news, CEO Peter James Lau sold 5,435 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the transaction, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The trade was a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

FARO Technologies Price Performance

Shares of NASDAQ:FARO opened at $25.06 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $28.04. The company has a market capitalization of $474.14 million, a P/E ratio of -71.60 and a beta of 1.26. The firm’s 50 day simple moving average is $19.20 and its two-hundred day simple moving average is $17.91.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Craig Hallum lifted their price target on shares of FARO Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Needham & Company LLC lifted their price target on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

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.