Jacobs Levy Equity Management Inc. Reduces Position in FARO Technologies, Inc. (NASDAQ:FARO)

Jacobs Levy Equity Management Inc. trimmed its position in FARO Technologies, Inc. (NASDAQ:FARO) by 21.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 293,066 shares of the scientific and technical instruments company’s stock after selling 78,750 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in FARO Technologies were worth $5,609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FARO. Divisar Capital Management LLC grew its holdings in FARO Technologies by 5.1% in the 2nd quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock worth $29,420,000 after acquiring an additional 90,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of FARO Technologies by 4.2% in the first quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock worth $34,191,000 after purchasing an additional 64,095 shares during the last quarter. Royce & Associates LP increased its holdings in FARO Technologies by 20.0% during the 3rd 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 during the period. Harvey Partners LLC raised its position in FARO Technologies by 17.8% during the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after purchasing an additional 152,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in FARO Technologies by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock valued at $9,671,000 after purchasing an additional 59,142 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors.

FARO Technologies Stock Performance

FARO Technologies stock opened at $26.71 on Friday. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $28.04. The stock’s 50 day simple moving average is $21.75 and its two-hundred day simple moving average is $18.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The stock has a market cap of $505.35 million, a price-to-earnings ratio of -76.31 and a beta of 1.38.

Analyst Upgrades and Downgrades

FARO has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Craig Hallum upped their price objective on shares of FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

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.