Franklin Resources Inc. lessened its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 409,888 shares of the scientific and technical instruments company’s stock after selling 8,920 shares during the quarter. Franklin Resources Inc. owned about 2.45% of FARO Technologies worth $15,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FARO. Teachers Advisors LLC lifted its stake in shares of FARO Technologies by 0.8% during the fourth quarter. Teachers Advisors LLC now owns 29,538 shares of the scientific and technical instruments company’s stock valued at $1,063,000 after acquiring an additional 234 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of FARO Technologies by 1.5% during the first quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the scientific and technical instruments company’s stock valued at $243,000 after acquiring an additional 100 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of FARO Technologies by 6.6% during the first quarter. Great West Life Assurance Co. Can now owns 23,154 shares of the scientific and technical instruments company’s stock valued at $827,000 after acquiring an additional 1,429 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of FARO Technologies by 9.3% during the first quarter. Bank of New York Mellon Corp now owns 521,458 shares of the scientific and technical instruments company’s stock valued at $18,642,000 after acquiring an additional 44,526 shares during the period. Finally, Comerica Bank lifted its stake in shares of FARO Technologies by 3.7% during the first quarter. Comerica Bank now owns 18,419 shares of the scientific and technical instruments company’s stock valued at $689,000 after acquiring an additional 664 shares during the period. 94.64% of the stock is currently owned by institutional investors and hedge funds.

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FARO has been the topic of several research reports. Craig Hallum initiated coverage on FARO Technologies in a research note on Tuesday, June 27th. They set a “buy” rating and a $45.00 price target on the stock. ValuEngine upgraded FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Needham & Company LLC upped their price objective on FARO Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Canaccord Genuity upped their price objective on FARO Technologies from $38.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded FARO Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. FARO Technologies has a consensus rating of “Hold” and a consensus target price of $40.60.

Shares of FARO Technologies, Inc. (NASDAQ FARO) opened at 37.15 on Friday. The company’s market cap is $620.70 million. The company has a 50-day moving average price of $34.45 and a 200-day moving average price of $35.61. FARO Technologies, Inc. has a 12-month low of $29.00 and a 12-month high of $40.60.

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

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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