Dorsey & Whitney Trust CO LLC Purchases Shares of 11,250 Clearfield, Inc. $CLFD

Key Points

• Dorsey & Whitney Trust CO LLC has acquired a new stake of 11,250 shares in Clearfield, Inc. valued at approximately $334,000, representing 0.08% of the company's stock.
• Several institutional investors have increased their stakes in Clearfield, with notable increases from US Bancorp DE (705%) and Tower Research Capital LLC TRC (340.6%).
• Analysts have downgraded Clearfield's stock ratings recently, with two analysts rating it a Buy and two a Hold, setting an average price target of $47.50.

Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,250 shares of the communications equipment provider's stock, valued at approximately $334,000. Dorsey & Whitney Trust CO LLC owned 0.08% of Clearfield at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in Clearfield by 2.5% during the fourth quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider's stock valued at $470,000 after acquiring an additional 366 shares during the period. US Bancorp DE boosted its position in shares of Clearfield by 705.0% in the first 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. Tower Research Capital LLC TRC boosted 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 worth $36,000 after buying an additional 906 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Clearfield by 3.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,488 shares of the communications equipment provider's stock worth $821,000 after buying an additional 960 shares during the period. Finally, Occudo Quantitative Strategies LP boosted its position in shares of Clearfield by 13.7% in the fourth quarter. Occudo Quantitative Strategies LP now owns 10,421 shares of the communications equipment provider's stock worth $323,000 after buying an additional 1,254 shares during the period. Hedge funds and other institutional investors own 88.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CLFD. Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Northland Capmk downgraded Clearfield from a "strong-buy" rating to a "hold" rating 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 for the company. in a research report on Thursday, August 7th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Clearfield in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $47.50.

Clearfield Stock Performance

Shares of NASDAQ:CLFD opened at $32.91 on Friday. The company has a market cap of $454.49 million, a P/E ratio of 3,291.00 and a beta of 1.63. The stock's 50-day moving average is $40.17 and its 200-day moving average is $35.01. Clearfield, Inc. has a 52-week low of $23.78 and a 52-week high of $46.76.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The company 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%. As a group, equities analysts predict that Clearfield, Inc. will post -0.29 EPS for the current year.

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.

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