Charles Schwab Investment Management Inc. Has $2.85 Million Stake in Clearfield, Inc. $CLFD

Charles Schwab Investment Management Inc. increased its stake in shares of Clearfield, Inc. (NASDAQ:CLFD) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,825 shares of the communications equipment provider’s stock after purchasing an additional 4,290 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.68% of Clearfield worth $2,848,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Clearfield by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 952,059 shares of the communications equipment provider’s stock valued at $28,295,000 after buying an additional 7,919 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Clearfield by 2,710.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 1,789 shares during the period. US Bancorp DE boosted its holdings in shares of Clearfield by 705.0% during the 1st quarter. US Bancorp DE now owns 966 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 846 shares during the period. Royce & Associates LP boosted its holdings in shares of Clearfield by 1.3% during the 1st quarter. Royce & Associates LP now owns 485,009 shares of the communications equipment provider’s stock worth $14,414,000 after buying an additional 6,200 shares during the period. Finally, Skylands Capital LLC boosted its holdings in shares of Clearfield by 47.9% during the 1st quarter. Skylands Capital LLC now owns 30,757 shares of the communications equipment provider’s stock worth $914,000 after buying an additional 9,957 shares during the period. 88.73% of the stock is owned by institutional investors.

Clearfield Stock Performance

NASDAQ:CLFD opened at $32.62 on Friday. The firm has a market cap of $450.48 million, a P/E ratio of 3,262.00 and a beta of 1.63. Clearfield, Inc. has a 52 week low of $23.78 and a 52 week high of $46.76. The firm’s fifty day moving average is $39.53 and its 200-day moving average is $34.93.

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

Wall Street Analysts Forecast Growth

CLFD has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Clearfield from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Northland Securities cut shares of Clearfield from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a research report on Thursday, August 7th. Roth Capital restated a “buy” rating on shares of Clearfield in a research report on Thursday, August 7th. Finally, Northland Capmk cut shares of Clearfield from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.50.

About Clearfield

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.