Royce & Associates LP Purchases 6,200 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Key Points

• Royce & Associates LP increased its stake in Clearfield, Inc. by 1.3%, owning approximately 485,009 shares valued at $14.41 million as of the latest SEC filing.
• Wall Street analysts have upgraded Clearfield to a "buy" rating, with a consensus price target of $46.75, indicating positive expectations for the company's performance.
• Clearfield reported earnings per share of $0.09 for its latest quarter, beating estimates, with revenue of $47.17 million compared to a consensus estimate of $38.53 million.

Royce & Associates LP boosted its position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,009 shares of the communications equipment provider's stock after buying an additional 6,200 shares during the quarter. Royce & Associates LP owned approximately 3.43% of Clearfield worth $14,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Clearfield during the fourth quarter valued at approximately $74,000. GAMMA Investing LLC boosted its stake in shares of Clearfield by 5,214.1% during the first quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider's stock valued at $134,000 after purchasing an additional 4,432 shares during the period. Quantbot Technologies LP boosted its stake in shares of Clearfield by 261.4% during the fourth quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider's stock valued at $151,000 after purchasing an additional 3,529 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Clearfield by 25.0% during the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock valued at $239,000 after purchasing an additional 1,544 shares during the period. Hedge funds and other institutional investors own 88.73% of the company's stock.

Clearfield Stock Performance

Shares of Clearfield stock traded up $0.79 during midday trading on Monday, reaching $45.10. 24,557 shares of the company's stock traded hands, compared to its average volume of 128,136. The company has a market cap of $623.79 million, a PE ratio of -322.15 and a beta of 1.71. The stock has a 50 day moving average of $40.82 and a 200-day moving average of $35.04. Clearfield, Inc. has a 12 month low of $23.78 and a 12 month high of $46.76.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. The company had revenue of $47.17 million during the quarter, compared to the consensus estimate of $38.53 million. Clearfield had a negative return on equity of 0.68% and a negative net margin of 1.04%. On average, equities analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Clearfield from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "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.