Sequoia Financial Advisors LLC Has $669,000 Position in Clearfield, Inc. (NASDAQ:CLFD)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ACK Asset Management LLC lifted its position in shares of Clearfield by 3.6% during the 4th quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider's stock valued at $22,320,000 after acquiring an additional 25,000 shares during the period. Royce & Associates LP lifted its position in shares of Clearfield by 3.1% during the 4th quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider's stock valued at $14,843,000 after acquiring an additional 14,464 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Clearfield by 17.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock valued at $9,994,000 after acquiring an additional 48,730 shares during the period. Marshall Wace LLP lifted its position in shares of Clearfield by 13.1% during the 4th quarter. Marshall Wace LLP now owns 174,767 shares of the communications equipment provider's stock valued at $5,418,000 after acquiring an additional 20,269 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Clearfield by 9.1% during the 4th quarter. Northern Trust Corp now owns 125,677 shares of the communications equipment provider's stock valued at $3,896,000 after acquiring an additional 10,476 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Clearfield Price Performance

Shares of CLFD stock traded up $0.61 on Friday, hitting $44.43. 48,385 shares of the company's stock were exchanged, compared to its average volume of 121,942. Clearfield, Inc. has a 12 month low of $23.78 and a 12 month high of $44.83. The stock has a market cap of $614.40 million, a P/E ratio of -317.32 and a beta of 1.71. The company has a 50 day moving average of $37.82 and a 200 day moving average of $33.85.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (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 business had revenue of $47.17 million during the quarter, compared to analysts' expectations of $38.53 million. Sell-side analysts predict that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CLFD shares. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Clearfield in a research report on Wednesday, March 26th. Wall Street Zen upgraded Clearfield from a "hold" rating to a "buy" rating in a research report on Saturday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price 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.