Needham Investment Management LLC Invests $620,000 in Clearfield, Inc. (NASDAQ:CLFD)

Needham Investment Management LLC bought a new position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the communications equipment provider's stock, valued at approximately $620,000. Needham Investment Management LLC owned approximately 0.14% of Clearfield at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CLFD. Tower Research Capital LLC TRC increased its stake in Clearfield by 340.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock worth $36,000 after acquiring an additional 906 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Clearfield during the fourth quarter worth approximately $74,000. Quantbot Technologies LP increased its stake in Clearfield by 261.4% during the fourth quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider's stock worth $151,000 after acquiring an additional 3,529 shares during the last quarter. SG Americas Securities LLC increased its stake in Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock worth $164,000 after acquiring an additional 1,656 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Clearfield during the fourth quarter worth approximately $233,000. 88.73% of the stock is owned by institutional investors.

Clearfield Stock Performance

CLFD traded down $0.12 on Friday, reaching $38.85. 245,578 shares of the stock were exchanged, compared to its average volume of 123,131. The company's 50-day moving average price is $29.77 and its 200 day moving average price is $31.94. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41. The firm has a market capitalization of $537.33 million, a PE ratio of -61.67 and a beta of 1.61.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. The business had revenue of $47.17 million during the quarter, compared to analyst estimates of $38.53 million. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. As a group, sell-side analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLFD has been the topic of several recent analyst reports. StockNews.com upgraded Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.75.

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.