Semanteon Capital Management LP Purchases New Stake in FARO Technologies, Inc. (NASDAQ:FARO)

Semanteon Capital Management LP acquired a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,081 shares of the scientific and technical instruments company’s stock, valued at approximately $317,000. Semanteon Capital Management LP owned 0.07% of FARO Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bailard Inc. bought a new stake in shares of FARO Technologies during the 4th quarter worth about $256,000. Signaturefd LLC bought a new stake in shares of FARO Technologies in the fourth quarter valued at approximately $292,000. Nisa Investment Advisors LLC lifted its position in shares of FARO Technologies by 16.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,420 shares of the scientific and technical instruments company’s stock valued at $145,000 after acquiring an additional 900 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in FARO Technologies by 1.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,109 shares of the scientific and technical instruments company’s stock worth $5,793,000 after purchasing an additional 4,610 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of FARO Technologies by 64.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 493,724 shares of the scientific and technical instruments company’s stock worth $11,124,000 after acquiring an additional 193,757 shares during the period. 97.19% of the stock is currently owned by institutional investors and hedge funds.

FARO Technologies Price Performance

FARO Technologies stock opened at $18.92 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.00 and a current ratio of 2.31. FARO Technologies, Inc. has a 52-week low of $10.30 and a 52-week high of $24.80. The stock’s 50 day moving average price is $20.73 and its two-hundred day moving average price is $19.67.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, February 27th. The scientific and technical instruments company reported $0.08 earnings per share (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 company had revenue of $98.84 million for the quarter.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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