King Luther Capital Management Corp Sells 15,000 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

King Luther Capital Management Corp lessened its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 18.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,000 shares of the scientific and technical instruments company’s stock after selling 15,000 shares during the period. King Luther Capital Management Corp owned about 0.33% of FARO Technologies worth $1,244,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FARO. Quest Partners LLC grew its holdings in FARO Technologies by 196.7% during the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock worth $605,000 after acquiring an additional 20,963 shares in the last quarter. Royce & Associates LP boosted its stake in shares of FARO Technologies by 20.0% during the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after purchasing an additional 234,650 shares in the last quarter. GSA Capital Partners LLP increased its holdings in FARO Technologies by 27.6% during the third quarter. GSA Capital Partners LLP now owns 78,277 shares of the scientific and technical instruments company’s stock valued at $1,498,000 after buying an additional 16,944 shares during the period. CWM LLC raised its stake in FARO Technologies by 41.0% in the third quarter. CWM LLC now owns 3,328 shares of the scientific and technical instruments company’s stock worth $64,000 after buying an additional 968 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in FARO Technologies during the third quarter worth $141,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FARO. Needham & Company LLC lifted their price target on FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Craig Hallum lifted their target price on FARO Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th.

FARO Technologies Stock Performance

Shares of FARO stock opened at $27.00 on Friday. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $28.04. The business’s fifty day simple moving average is $20.09 and its 200-day simple moving average is $18.17. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The company has a market cap of $510.84 million, a PE ratio of -77.14 and a beta of 1.26.

Insider Buying and Selling

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the completion of the sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. This trade represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

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.