FARO Technologies, Inc. (FARO) Holdings Lifted by Penserra Capital Management LLC
Penserra Capital Management LLC raised its holdings in FARO Technologies, Inc. (NASDAQ:FARO) by 2,116.9% in the first quarter, HoldingsChannel.com reports. The firm owned 15,385 shares of the scientific and technical instruments company’s stock after purchasing an additional 14,691 shares during the period. Penserra Capital Management LLC’s holdings in FARO Technologies were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Quantamental Technologies LLC bought a new position in FARO Technologies in the 1st quarter valued at $48,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of FARO Technologies by 61.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,323 shares of the scientific and technical instruments company’s stock valued at $54,000 after buying an additional 505 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of FARO Technologies during the 4th quarter valued at $98,000. AdvisorNet Financial Inc lifted its position in shares of FARO Technologies by 11.9% during the 4th quarter. AdvisorNet Financial Inc now owns 2,585 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 275 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its position in shares of FARO Technologies by 12.9% during the 4th quarter. Flinton Capital Management LLC now owns 2,940 shares of the scientific and technical instruments company’s stock valued at $119,000 after buying an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.
A number of analysts recently issued reports on FARO shares. BidaskClub cut FARO Technologies from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Zacks Investment Research cut FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Gabelli cut FARO Technologies from a “buy” rating to a “hold” rating and set a $43.77 price objective on the stock. in a report on Thursday, February 21st. Finally, Craig Hallum cut FARO Technologies from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.95.
FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). The company had revenue of $93.61 million for the quarter, compared to analysts’ expectations of $101.85 million. FARO Technologies had a return on equity of 3.11% and a net margin of 1.14%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. As a group, research analysts expect that FARO Technologies, Inc. will post 0.95 EPS for the current year.
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FARO Technologies Profile
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.
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