Invesco Ltd. Has $723,000 Stock Position in Clearfield, Inc. $CLFD

Key Points

• Invesco Ltd. increased its holdings in Clearfield, Inc. by 60.6%, acquiring an additional 9,179 shares, bringing its total ownership to approximately $723,000.
• Research analysts have mixed ratings for Clearfield, with two analysts rating it as a "Buy" and two as a "Hold," while the current consensus price target is $47.50.
• Clearfield reported earnings of $0.11 per share, exceeding analyst expectations and generating revenue of $49.90 million for the quarter, which was above the anticipated $47.58 million.

Invesco Ltd. boosted its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 60.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,325 shares of the communications equipment provider's stock after acquiring an additional 9,179 shares during the quarter. Invesco Ltd. owned approximately 0.17% of Clearfield worth $723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Clearfield by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 95,825 shares of the communications equipment provider's stock valued at $2,848,000 after acquiring an additional 4,290 shares in the last quarter. Vanguard Group Inc. raised its position in Clearfield by 0.8% during the first quarter. Vanguard Group Inc. now owns 952,059 shares of the communications equipment provider's stock valued at $28,295,000 after acquiring an additional 7,919 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake 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 acquiring an additional 1,789 shares in the last quarter. US Bancorp DE boosted its stake 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 acquiring an additional 846 shares in the last quarter. Finally, Royce & Associates LP boosted its stake 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 acquiring an additional 6,200 shares in the last quarter. Institutional investors own 88.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CLFD shares. Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Northland Securities downgraded Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 price target on the stock. in a report on Thursday, August 7th. Northland Capmk downgraded Clearfield from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Roth Capital reiterated a "buy" rating on shares of Clearfield in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Clearfield presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Clearfield Stock Down 1.2%

CLFD stock traded down $0.39 during midday trading on Tuesday, hitting $33.25. 77,216 shares of the company traded hands, compared to its average volume of 159,056. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $46.76. The business has a 50 day simple moving average of $38.20 and a 200-day simple moving average of $34.93. The stock has a market capitalization of $459.18 million, a price-to-earnings ratio of 3,325.00 and a beta of 1.70.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 0.11% and a return on equity of 0.07%. Equities research analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current 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.