Vanguard Group Inc. Acquires 7,919 Shares of Clearfield, Inc. $CLFD

Vanguard Group Inc. raised its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 952,059 shares of the communications equipment provider’s stock after buying an additional 7,919 shares during the period. Vanguard Group Inc. owned about 6.74% of Clearfield worth $28,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its stake in Clearfield by 705.0% in the first quarter. US Bancorp DE now owns 966 shares of the communications equipment provider’s stock valued at $29,000 after buying an additional 846 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Clearfield by 340.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 906 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Clearfield by 2,710.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 1,789 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Clearfield by 5,214.1% in the first quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider’s stock valued at $134,000 after purchasing an additional 4,432 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Clearfield by 25.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider’s stock valued at $239,000 after purchasing an additional 1,544 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Northland Capmk downgraded Clearfield from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of Clearfield in a research report on Thursday, August 7th. Northland Securities downgraded Clearfield from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded Clearfield from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Clearfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Clearfield Price Performance

Shares of NASDAQ:CLFD opened at $32.73 on Thursday. The company has a market capitalization of $452.00 million, a P/E ratio of 3,273.00 and a beta of 1.63. Clearfield, Inc. has a 1 year low of $23.78 and a 1 year high of $46.76. The business’s 50 day simple moving average is $39.81 and its 200 day simple moving average is $34.93.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $49.90 million for the quarter, compared to the consensus estimate of $47.58 million. Clearfield had a return on equity of 0.07% and a net margin of 0.11%. On average, sell-side analysts anticipate that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Clearfield 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.