FARO Technologies (NASDAQ:FARO – Free Report) had its target price reduced by Needham & Company LLC from $27.00 to $24.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.
Other equities research analysts have also recently issued reports about the company. Craig Hallum lowered their price objective on FARO Technologies from $29.00 to $25.00 and set a buy rating on the stock in a research note on Friday. StockNews.com upgraded FARO Technologies from a hold rating to a buy rating in a research note on Friday, May 3rd.
View Our Latest Research Report on FARO
FARO Technologies Price Performance
Insider Activity
In related news, Director Yuval Wasserman sold 10,075 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $16.64, for a total value of $167,648.00. Following the transaction, the director now directly owns 183,221 shares in the company, valued at $3,048,797.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 30,036 shares of company stock worth $518,303 over the last ninety days. Company insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of FARO Technologies by 32.2% in the second quarter. Renaissance Technologies LLC now owns 225,307 shares of the scientific and technical instruments company’s stock worth $3,605,000 after purchasing an additional 54,865 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of FARO Technologies by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock worth $9,671,000 after purchasing an additional 59,142 shares during the last quarter. American Century Companies Inc. increased its position in shares of FARO Technologies by 16.7% in the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock worth $334,000 after purchasing an additional 2,993 shares during the last quarter. Acadian Asset Management LLC boosted its stake in FARO Technologies by 23.5% in the second quarter. Acadian Asset Management LLC now owns 209,787 shares of the scientific and technical instruments company’s stock worth $3,354,000 after buying an additional 39,905 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in FARO Technologies by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock worth $1,221,000 after buying an additional 4,174 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors.
About FARO Technologies
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.
Recommended Stories
- Five stocks we like better than FARO Technologies
- The Significance of Brokerage Rankings in Stock Selection
- How to Invest in Silver: A Beginner’s Guide
- Want to Profit on the Downtrend? Downtrends, Explained.
- Monday.com’s Stock Results Will Brighten Any Investor’s Week
- What is a Death Cross in Stocks?
- 3 Must-Watch Stocks After a Bullish Goldman Sachs Recommendation
Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.