Icon Advisers Inc. Co. Raises Stake in Electronics for Imaging, Inc. (EFII)

Icon Advisers Inc. Co. lifted its stake in shares of Electronics for Imaging, Inc. (NASDAQ:EFII) by 9.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,300 shares of the technology company’s stock after acquiring an additional 2,300 shares during the quarter. Icon Advisers Inc. Co. owned approximately 0.06% of Electronics for Imaging worth $1,293,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. 1st Global Advisors Inc. increased its position in shares of Electronics for Imaging by 1.4% during the first quarter. 1st Global Advisors Inc. now owns 6,942 shares of the technology company’s stock worth $339,000 after acquiring an additional 99 shares during the period. Arizona State Retirement System increased its position in shares of Electronics for Imaging by 0.4% during the first quarter. Arizona State Retirement System now owns 24,169 shares of the technology company’s stock worth $1,180,000 after acquiring an additional 100 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Electronics for Imaging by 0.9% during the first quarter. Municipal Employees Retirement System of Michigan now owns 10,690 shares of the technology company’s stock worth $522,000 after acquiring an additional 100 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Electronics for Imaging by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 27,266 shares of the technology company’s stock worth $1,292,000 after acquiring an additional 123 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Electronics for Imaging by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,504 shares of the technology company’s stock worth $119,000 after acquiring an additional 217 shares during the period.

A number of equities analysts have recently commented on the stock. Longbow Research lowered shares of Electronics for Imaging from a “buy” rating to a “neutral” rating in a research report on Thursday, June 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Electronics for Imaging from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Loop Capital assumed coverage on shares of Electronics for Imaging in a research report on Monday, July 24th. They set a “buy” rating and a $58.00 target price on the stock. BidaskClub lowered shares of Electronics for Imaging from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Aegis assumed coverage on shares of Electronics for Imaging in a research report on Tuesday, June 13th. They set a “buy” rating and a $58.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $50.70.

Electronics for Imaging, Inc. (NASDAQ EFII) opened at 41.59 on Friday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 43.10 and a beta of 1.27. The company’s 50-day moving average is $36.71 and its 200 day moving average is $44.90. Electronics for Imaging, Inc. has a one year low of $25.54 and a one year high of $51.15.

Electronics for Imaging (NASDAQ:EFII) last announced its earnings results on Monday, September 11th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). Electronics for Imaging had a return on equity of 5.58% and a net margin of 4.70%. The business had revenue of $247.00 million for the quarter, compared to analysts’ expectations of $247.65 million. During the same period in the previous year, the company earned $0.56 earnings per share. Electronics for Imaging’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts expect that Electronics for Imaging, Inc. will post $2.44 EPS for the current year.

Electronics for Imaging announced that its Board of Directors has authorized a stock repurchase program on Monday, September 11th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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In related news, CEO Guy Gecht sold 13,712 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $47.57, for a total transaction of $652,279.84. Following the sale, the chief executive officer now directly owns 392,648 shares of the company’s stock, valued at approximately $18,678,265.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 45,458 shares of company stock worth $2,118,405. 1.88% of the stock is owned by insiders.

About Electronics for Imaging

Electronics For Imaging, Inc is engaged in digital printing, focused on the transformation of the printing, packaging, ceramic tile decoration, and textile industries from the use of traditional analog-based printing to digital on-demand printing. It operates through three segments. The Industrial Inkjet segment consists of its VUTEk and Matan super-wide and wide format display graphics, Reggiani textile, Jetrion label and packaging and Cretaprint ceramic tile decoration and construction material industrial digital inkjet printers; ceramic, water-based, and thermoforming ink, and digital inkjet printer parts, and professional services.

Institutional Ownership by Quarter for Electronics for Imaging (NASDAQ:EFII)

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