The California Public Employees Retirement System lowers its Position in Faro Technologies Inc. (FARO)

The California Public Employees Retirement System lowers its Position in Faro Technologies Inc. (FARO)

California Public Employees Retirement System reduced its stake in shares of Faro Technologies Inc. (NASDAQ:FARO) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,400 shares of the company’s stock after selling 1,200 shares during the period. California Public Employees Retirement System owned about 0.22% of Faro Technologies worth $1,231,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors L.L.C. boosted its position in shares of Faro Technologies by 56.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 25,300 shares of the company’s stock valued at $815,000 after buying an additional 9,100 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Faro Technologies by 7.5% in the first quarter. BlackRock Group LTD now owns 24,962 shares of the company’s stock valued at $804,000 after buying an additional 1,743 shares during the last quarter. Royce & Associates LP boosted its position in shares of Faro Technologies by 40.6% in the first quarter. Royce & Associates LP now owns 930,100 shares of the company’s stock valued at $29,959,000 after buying an additional 268,700 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Faro Technologies by 0.8% in the first quarter. Primecap Management Co. CA now owns 1,821,742 shares of the company’s stock valued at $58,678,000 after buying an additional 14,742 shares during the last quarter. Finally, A.R.T. Advisors LLC boosted its position in shares of Faro Technologies by 131.7% in the first quarter. A.R.T. Advisors LLC now owns 28,328 shares of the company’s stock valued at $912,000 after buying an additional 16,100 shares during the last quarter. 92.55% of the stock is owned by institutional investors.

Shares of Faro Technologies Inc. (NASDAQ:FARO) traded up 0.79% during midday trading on Friday, reaching $34.52. The company’s stock had a trading volume of 15,360 shares. Faro Technologies Inc. has a 1-year low of $20.72 and a 1-year high of $38.01. The firm has a market capitalization of $575.59 million, a PE ratio of 40.37 and a beta of 1.72. The company’s 50-day moving average price is $34.66 and its 200 day moving average price is $33.58.

Faro Technologies (NASDAQ:FARO) last posted its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.08. Faro Technologies had a net margin of 4.55% and a return on equity of 4.86%. The company earned $78.50 million during the quarter, compared to analyst estimates of $84.38 million. During the same quarter last year, the business posted $0.32 EPS. Faro Technologies’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Faro Technologies Inc. will post $1.05 earnings per share for the current year.

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $39.00 target price on shares of Faro Technologies in a research note on Friday, July 15th. Canaccord Genuity restated a “buy” rating and set a $38.00 target price on shares of Faro Technologies in a research note on Thursday, August 4th. Finally, Zacks Investment Research cut Faro Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $36.17.

Faro Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Americas, Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

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