Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its stake in shares of Clearfield, Inc. (NASDAQ:CLFD) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 283,769 shares of the communications equipment provider’s stock after selling 2,446 shares during the quarter. Geode Capital Management LLC owned about 2.01% of Clearfield worth $8,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Royce & Associates LP increased its position in Clearfield by 3.1% in the fourth quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider’s stock worth $14,843,000 after buying an additional 14,464 shares during the period. Barclays PLC increased its holdings in shares of Clearfield by 164.2% in the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock worth $3,428,000 after acquiring an additional 54,670 shares during the period. Drum Hill Capital LLC bought a new stake in Clearfield in the 4th quarter valued at about $1,539,000. JPMorgan Chase & Co. boosted its stake in Clearfield by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 44,251 shares of the communications equipment provider’s stock valued at $1,372,000 after purchasing an additional 3,174 shares during the period. Finally, American Century Companies Inc. grew its position in Clearfield by 11.1% in the 4th quarter. American Century Companies Inc. now owns 23,514 shares of the communications equipment provider’s stock worth $729,000 after purchasing an additional 2,344 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CLFD shares. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Clearfield in a report on Wednesday, March 26th. StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Insider Activity

In other news, COO John P. Hill sold 16,539 shares of Clearfield stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total value of $550,087.14. Following the transaction, the chief operating officer now owns 189,886 shares of the company’s stock, valued at $6,315,608.36. The trade was a 8.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 17.80% of the company’s stock.

Clearfield Stock Up 3.1 %

CLFD stock opened at $28.08 on Thursday. The firm’s 50-day moving average is $29.33 and its two-hundred day moving average is $32.49. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $396.83 million, a price-to-earnings ratio of -44.57 and a beta of 1.51. Clearfield, Inc. has a 52 week low of $23.78 and a 52 week high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. On average, analysts forecast that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Clearfield Company Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.