Mirae Asset Global Investments Co. Ltd. Has $5.79 Million Stake in FARO Technologies, Inc. (NASDAQ:FARO)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 257,109 shares of the scientific and technical instruments company’s stock after buying an additional 4,610 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in FARO Technologies were worth $5,793,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of FARO Technologies by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 171,159 shares of the scientific and technical instruments company’s stock valued at $8,887,000 after buying an additional 5,071 shares during the period. Citigroup Inc. increased its stake in shares of FARO Technologies by 3.6% in the first quarter. Citigroup Inc. now owns 28,518 shares of the scientific and technical instruments company’s stock valued at $1,480,000 after buying an additional 981 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of FARO Technologies by 15.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock valued at $208,000 after buying an additional 523 shares during the period. Bank of Montreal Can increased its stake in shares of FARO Technologies by 7.4% in the first quarter. Bank of Montreal Can now owns 12,306 shares of the scientific and technical instruments company’s stock valued at $672,000 after buying an additional 848 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of FARO Technologies by 54.0% in the first quarter. MetLife Investment Management LLC now owns 10,168 shares of the scientific and technical instruments company’s stock valued at $528,000 after buying an additional 3,566 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of FARO Technologies in a research note on Thursday, February 29th.

Insiders Place Their Bets

In other FARO Technologies news, VP Jeffrey D. Sexton sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $20.06, for a total transaction of $30,090.00. Following the transaction, the vice president now directly owns 27,706 shares in the company, valued at approximately $555,782.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

FARO Technologies Stock Performance

Shares of FARO stock opened at $19.64 on Monday. The business’s 50 day simple moving average is $21.42 and its 200 day simple moving average is $19.48. FARO Technologies, Inc. has a one year low of $10.30 and a one year high of $25.00. The stock has a market capitalization of $372.55 million, a PE ratio of -6.57 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.00.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, February 27th. The scientific and technical instruments company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.31. FARO Technologies had a negative return on equity of 20.66% and a negative net margin of 15.77%. The business had revenue of $98.84 million for the quarter.

FARO Technologies Company Profile

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.