BlackRock Inc. Takes Position in Clearfield, Inc. $CLFD

Key Points

• BlackRock acquired 957,424 Clearfield shares worth approximately $38.1 million, giving it a 7.05% stake. Institutional investors now own 88.73% of the company.
• Analyst sentiment is generally positive, with five Buy ratings, one Hold and one Sell; MarketBeat lists a consensus “Moderate Buy” rating and a $41.75 price target.
• Clearfield reported quarterly EPS of $0.22, beating estimates of $0.19, while revenue of $43.86 million was roughly in line with expectations. Shares opened at $28.25, down 2.6%, and remain well below their 12-month high of $52.73.

BlackRock Inc. purchased a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 957,424 shares of the communications equipment provider's stock, valued at approximately $38,096,000. BlackRock Inc. owned about 7.05% of Clearfield at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG bought a new position in Clearfield in the 2nd quarter valued at $440,000. AIGH Capital Management LLC purchased a new position in shares of Clearfield in the 2nd quarter worth about $40,127,000. Bank of New York Mellon Corp bought a new position in Clearfield during the second quarter valued at about $1,454,000. State of Wyoming purchased a new stake in Clearfield during the second quarter worth about $96,000. Finally, Bank of America Corp DE raised its position in Clearfield by 11.4% in the first quarter. Bank of America Corp DE now owns 115,156 shares of the communications equipment provider's stock worth $3,048,000 after acquiring an additional 11,798 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CLFD shares. Weiss Ratings upgraded shares of Clearfield from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Needham & Company LLC decreased their target price on Clearfield from $52.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, Lake Street Capital set a $38.00 price target on Clearfield in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.75.

Insider Transactions at Clearfield

In other Clearfield news, insider Anis Khemakhem sold 1,684 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $39.90, for a total value of $67,191.60. Following the completion of the transaction, the insider owned 25,126 shares in the company, valued at $1,002,527.40. This trade represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.80% of the company's stock.

Clearfield Trading Down 2.6%

CLFD opened at $28.25 on Wednesday. Clearfield, Inc. has a 12 month low of $23.76 and a 12 month high of $52.73. The company has a market cap of $383.63 million, a PE ratio of -55.39 and a beta of 2.11. The company has a 50 day moving average of $31.53 and a 200 day moving average of $33.37.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its earnings results on Wednesday, August 5th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. Clearfield had a negative net margin of 4.71% and a positive return on equity of 1.61%. The business had revenue of $43.86 million for the quarter, compared to analysts' expectations of $43.92 million. Clearfield has set its Q4 2026 guidance at 0.000-0.070 EPS and its FY 2026 guidance at 0.140-0.210 EPS. Research analysts forecast that Clearfield, Inc. will post 0.23 earnings per share for the current fiscal year.

About Clearfield

Clearfield, Inc NASDAQ: CLFD is a Minneapolis-based company specializing in fiber management products for broadband network deployments. The company's core offerings include fiber distribution hubs, enclosures, splice trays, patching panels and connectivity accessories designed to simplify installation and maintenance of fiber-optic networks. Clearfield's modular FieldSmart™ platform provides a scalable approach for service providers, utilities and enterprise organizations looking to expand or upgrade their fiber infrastructure.

Clearfield serves a diverse customer base that includes cable and internet service providers, telecommunications operators, wireless carriers, utilities and municipalities.

Want to see what other hedge funds are holding CLFD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clearfield, Inc. (NASDAQ:CLFD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source