351,480 Shares in FARO Technologies, Inc. (FARO) Acquired by Tikvah Management LLC

Tikvah Management LLC acquired a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 351,480 shares of the scientific and technical instruments company’s stock, valued at approximately $13,444,000. FARO Technologies comprises about 5.7% of Tikvah Management LLC’s investment portfolio, making the stock its 8th largest holding. Tikvah Management LLC owned 2.10% of FARO Technologies as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. 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 during the period. Victory Capital Management Inc. grew its stake in FARO Technologies by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,811 shares of the scientific and technical instruments company’s stock worth $144,000 after acquiring an additional 572 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in FARO Technologies by 3.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock worth $149,000 after acquiring an additional 130 shares during the period. Aperio Group LLC grew its stake in FARO Technologies by 2.6% in the 2nd quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock worth $224,000 after acquiring an additional 150 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in FARO Technologies by 71.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,956 shares of the scientific and technical instruments company’s stock worth $225,000 after acquiring an additional 2,490 shares during the period. Hedge funds and other institutional investors own 97.62% of the company’s stock.

Several analysts have commented on the stock. Gabelli cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. 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 research note on Wednesday, November 1st. Stifel Nicolaus lifted their target price on shares of FARO Technologies from $33.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 target price (up from $39.00) on shares of FARO Technologies in a research note on Sunday, October 29th. Finally, Craig Hallum set a $55.00 target price on shares of FARO Technologies and gave the stock a “buy” rating in a research note on Monday, October 30th. One research 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. FARO Technologies currently has a consensus rating of “Hold” and a consensus price target of $51.17.

Shares of FARO Technologies, Inc. (NASDAQ:FARO) opened at $51.20 on Thursday. FARO Technologies, Inc. has a 12 month low of $31.90 and a 12 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The company had revenue of $90.25 million during the quarter, compared to analysts’ expectations of $89.34 million. During the same period in the previous year, the company earned $0.07 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. analysts expect that FARO Technologies, Inc. will post 0.1 earnings per share for the current year.

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About FARO Technologies

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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