California Public Employees Retirement System lowered its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 4.3% during the first quarter, Holdings Channel reports. The institutional investor owned 31,000 shares of the scientific and technical instruments company’s stock after selling 1,400 shares during the period. California Public Employees Retirement System’s holdings in FARO Technologies were worth $1,108,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FARO. Louisiana State Employees Retirement System boosted its stake in FARO Technologies by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the scientific and technical instruments company’s stock worth $243,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System boosted its stake in FARO Technologies by 1.2% in the first quarter. Arizona State Retirement System now owns 8,684 shares of the scientific and technical instruments company’s stock worth $310,000 after buying an additional 100 shares during the last quarter. Prudential Financial Inc. boosted its stake in FARO Technologies by 0.7% in the first quarter. Prudential Financial Inc. now owns 28,690 shares of the scientific and technical instruments company’s stock worth $1,026,000 after buying an additional 200 shares during the last quarter. Teachers Advisors LLC boosted its stake in FARO Technologies by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 29,538 shares of the scientific and technical instruments company’s stock worth $1,063,000 after buying an additional 234 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its stake in FARO Technologies by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,901 shares of the scientific and technical instruments company’s stock worth $139,000 after buying an additional 257 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

FARO Technologies, Inc. (NASDAQ:FARO) traded up 0.76% during midday trading on Friday, hitting $33.10. 4,645 shares of the stock were exchanged. FARO Technologies, Inc. has a 12 month low of $29.00 and a 12 month high of $40.60. The firm’s 50 day moving average price is $37.66 and its 200 day moving average price is $36.15. The company’s market cap is $553.03 million.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.12 by $0.34. The firm had revenue of $82.68 million for the quarter, compared to the consensus estimate of $87.65 million. FARO Technologies had a negative return on equity of 0.13% and a negative net margin of 0.13%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. On average, equities research analysts forecast that FARO Technologies, Inc. will post ($0.13) earnings per share for the current fiscal year.

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A number of research firms have recently commented on FARO. Zacks Investment Research cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday, June 9th. BidaskClub cut shares of FARO Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Needham & Company LLC increased their price target on shares of FARO Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Finally, Gabelli cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $40.60.

FARO Technologies Company 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.

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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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