Clearfield, Inc. (NASDAQ:CLFD) Stock Holdings Increased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 199.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,501 shares of the communications equipment provider's stock after purchasing an additional 14,996 shares during the period. Sequoia Financial Advisors LLC owned approximately 0.16% of Clearfield worth $669,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Invesco Ltd. grew its stake in Clearfield by 2.5% in the 4th 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 last quarter. Tower Research Capital LLC TRC raised its position in shares of Clearfield by 340.6% in the 4th 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 increased its stake in Clearfield by 3.8% during 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 acquiring an additional 960 shares during the last quarter. Occudo Quantitative Strategies LP raised its holdings in Clearfield by 13.7% in the fourth quarter. Occudo Quantitative Strategies LP now owns 10,421 shares of the communications equipment provider's stock valued at $323,000 after buying an additional 1,254 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Clearfield by 25.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock valued at $239,000 after acquiring an additional 1,544 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Clearfield Stock Up 1.8%

NASDAQ:CLFD traded up $0.78 during trading hours on Wednesday, reaching $43.82. 96,268 shares of the stock were exchanged, compared to its average volume of 121,428. The stock has a market capitalization of $606.03 million, a P/E ratio of -313.00 and a beta of 1.71. The firm has a 50 day simple moving average of $36.88 and a 200-day simple moving average of $33.61. Clearfield, Inc. has a 52 week low of $23.78 and a 52 week high of $45.00.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.28. Clearfield had a negative return on equity of 0.68% and a negative net margin of 1.04%. The firm had revenue of $47.17 million during the quarter, compared to the consensus estimate of $38.53 million. As a group, analysts expect that Clearfield, Inc. will post -0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Clearfield in a research report 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

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.