Legal & General Group Plc Acquires 7,299 Shares of Electronics for Imaging, Inc. (EFII)

Legal & General Group Plc raised its holdings in shares of Electronics for Imaging, Inc. (NASDAQ:EFII) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,332 shares of the technology company’s stock after acquiring an additional 7,299 shares during the period. Legal & General Group Plc owned about 0.19% of Electronics for Imaging worth $4,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Electronics for Imaging during the second quarter valued at approximately $108,000. Tyers Asset Management LLC grew its position in Electronics for Imaging by 9.3% during the first quarter. Tyers Asset Management LLC now owns 2,296 shares of the technology company’s stock valued at $112,000 after acquiring an additional 196 shares during the last quarter. Strs Ohio grew its position in Electronics for Imaging by 91.7% during the first quarter. Strs Ohio now owns 2,300 shares of the technology company’s stock valued at $112,000 after acquiring an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Electronics for Imaging by 83.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,287 shares of the technology company’s stock valued at $112,000 after acquiring an additional 1,037 shares during the last quarter. Finally, Flinton Capital Management LLC grew its position in Electronics for Imaging by 9.3% during the first quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock valued at $136,000 after acquiring an additional 238 shares during the last quarter.

Electronics for Imaging, Inc. (NASDAQ EFII) opened at 41.40 on Wednesday. The stock has a 50 day moving average of $37.57 and a 200 day moving average of $45.04. Electronics for Imaging, Inc. has a one year low of $25.54 and a one year high of $51.15. The company has a market cap of $1.93 billion, a PE ratio of 40.91 and a beta of 1.27.

Electronics for Imaging (NASDAQ:EFII) last released its quarterly earnings results on Monday, September 11th. The technology company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). Electronics for Imaging had a net margin of 4.70% and a return on equity of 5.59%. The company had revenue of $247.00 million for the quarter, compared to analysts’ expectations of $247.65 million. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts anticipate that Electronics for Imaging, Inc. will post $2.50 earnings per share for the current fiscal year.

Electronics for Imaging announced that its board has authorized a stock buyback plan on Monday, September 11th that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

A number of research analysts have commented on the stock. TheStreet upgraded shares of Electronics for Imaging from a “c+” rating to a “b-” rating in a research report on Monday, June 5th. William Blair reiterated an “outperform” rating on shares of Electronics for Imaging in a research report on Wednesday, September 6th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target (down from $53.00) on shares of Electronics for Imaging in a research report on Wednesday, August 9th. Citigroup Inc. reiterated a “buy” rating and set a $53.00 price target on shares of Electronics for Imaging in a research report on Thursday, September 7th. Finally, Zacks Investment Research upgraded shares of Electronics for Imaging from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $51.11.

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In related news, CEO Guy Gecht sold 13,746 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $48.21, for a total transaction of $662,694.66. Following the sale, the chief executive officer now owns 386,760 shares in the company, valued at approximately $18,645,699.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 36,458 shares of company stock worth $1,749,225 in the last 90 days. 1.88% of the stock is currently 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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