FARO Technologies (NASDAQ:FARO) Given New $34.00 Price Target at Needham & Company LLC

FARO Technologies (NASDAQ:FARO) had its target price upped by Needham & Company LLC from $26.00 to $34.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Other research analysts have also recently issued research reports about the stock. Craig Hallum increased their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th.

FARO Technologies Price Performance

FARO Technologies stock opened at $31.83 on Thursday. The stock has a fifty day moving average of $26.55 and a 200-day moving average of $20.52. The stock has a market capitalization of $602.22 million, a P/E ratio of -90.94 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. FARO Technologies has a 52 week low of $13.52 and a 52 week high of $32.07.

Hedge Funds Weigh In On FARO Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of FARO. 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. Needham Investment Management LLC raised its holdings in FARO Technologies by 20.0% in the 3rd quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock valued at $19,700,000 after buying an additional 171,300 shares during the last quarter. Harvey Partners LLC raised its holdings in FARO Technologies by 17.8% in 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 buying an additional 152,000 shares during the last quarter. Divisar Capital Management LLC boosted its position in FARO Technologies by 5.1% during 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 buying an additional 90,000 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in FARO Technologies by 23.2% during the 3rd quarter. Invenomic Capital Management LP now owns 396,830 shares of the scientific and technical instruments company’s stock worth $7,595,000 after acquiring an additional 74,631 shares during the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

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.