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Peter James Lau, President and CEO of FARO Technologies Inc. (NASDAQ:FARO), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Lau disposed of 4,617 shares of common stock on March 7, 2025. The shares were sold at $29.30 each, amounting to a total transaction value of $135,278. The transaction comes as FARO’s stock has shown remarkable momentum, gaining over 67% in the past six months. According to InvestingPro data, analysts maintain a bullish outlook with price targets ranging from $37 to $40.
Following this transaction, Lau retains ownership of 160,076 shares in the company. The sale was conducted as a "sell-to-cover" transaction to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). This transaction was executed under FARO Technologies’ policy and was not a discretionary sale by Lau. The $553.7 million market cap company is currently trading near its Fair Value, with InvestingPro analysis revealing 8 additional key insights about the company’s financial health and growth prospects.
In other recent news, Faro Technologies reported fourth-quarter earnings that exceeded analyst expectations. The company posted adjusted earnings per share of $0.50, surpassing the analyst estimate of $0.31. Revenue for the quarter was $93.54 million, which was above the consensus estimate of $91.55 million, though it represented a 5% year-over-year decline. Faro Technologies also reported an improvement in its non-GAAP gross margin to 57.4% from 51.3% in the prior year. The company achieved a decade-high adjusted EBITDA margin of 18% and noted its fifth consecutive quarter of positive operating cash flow. Looking ahead, Faro Technologies projects first-quarter 2025 revenue between $77 million and $85 million, with earnings per share expected to be between $0.10 and $0.30, both above analyst expectations. Craig-Hallum analyst Greg Palm raised Faro’s price target from $33.00 to $40.00 and maintained a Buy rating, expressing confidence in the company’s growth potential. These developments highlight Faro’s strategic focus on operational excellence and growth initiatives.
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