Rhumbline Advisers Sells 1,253 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Rhumbline Advisers trimmed its position in FARO Technologies, Inc. (NASDAQ:FARO) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,026 shares of the scientific and technical instruments company’s stock after selling 1,253 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of FARO Technologies worth $820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of FARO Technologies by 0.8% in the 4th quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock valued at $1,371,000 after purchasing an additional 439 shares during the period. Lazard Asset Management LLC bought a new stake in shares of FARO Technologies in the 4th quarter valued at about $78,000. Wells Fargo & Company MN raised its holdings in shares of FARO Technologies by 27.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,307 shares of the scientific and technical instruments company’s stock valued at $312,000 after purchasing an additional 2,672 shares during the period. American Century Companies Inc. raised its holdings in FARO Technologies by 21.8% in the 4th quarter. American Century Companies Inc. now owns 31,048 shares of the scientific and technical instruments company’s stock valued at $787,000 after acquiring an additional 5,567 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in FARO Technologies by 7.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,101 shares of the scientific and technical instruments company’s stock valued at $1,981,000 after acquiring an additional 5,520 shares during the period. 97.19% of the stock is owned by institutional investors.

FARO Technologies Stock Down 0.1%

Shares of FARO opened at $43.72 on Friday. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $43.90. The firm’s 50 day moving average is $37.76 and its 200-day moving average is $31.48. The stock has a market capitalization of $844.67 million, a PE ratio of -874.40 and a beta of 1.63. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27.

Wall Street Analysts Forecast Growth

FARO has been the topic of several research analyst reports. Needham & Company LLC cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Wall Street Zen started coverage on shares of FARO Technologies in a report on Friday, May 16th. They issued a “buy” rating on the stock. Finally, Craig Hallum cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th.

FARO Technologies 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.