State of Wyoming Has $1.16 Million Holdings in Clearfield, Inc. $CLFD

Key Points

• The State of Wyoming increased its holdings in Clearfield, Inc. by 50.7%, owning approximately $1.16 million worth of shares after acquiring additional 13,117 shares.
• Several institutional investors have also significantly increased their stakes, with US Bancorp DE raising its position by 705% during the first quarter.
• Recent analyst reports have led to rating changes for Clearfield, with Wall Street Zen downgrading the stock from "buy" to "hold" while maintaining a consensus target price of $47.50.

State of Wyoming grew its stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 50.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,008 shares of the communications equipment provider's stock after acquiring an additional 13,117 shares during the quarter. State of Wyoming owned 0.28% of Clearfield worth $1,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE increased its stake in 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 purchasing an additional 846 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Clearfield by 340.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 906 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in 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 purchasing an additional 1,789 shares in the last quarter. GAMMA Investing LLC increased its stake in Clearfield by 5,214.1% during the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider's stock worth $134,000 after purchasing an additional 4,432 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Clearfield by 25.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock worth $239,000 after purchasing an additional 1,544 shares in the last quarter. 88.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Clearfield Price Performance

NASDAQ:CLFD traded down $0.45 during trading hours on Tuesday, reaching $32.17. 108,373 shares of the stock were exchanged, compared to its average volume of 142,359. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $46.76. The firm has a 50 day moving average of $39.34 and a 200 day moving average of $34.94. The stock has a market cap of $444.27 million, a PE ratio of 3,217.00 and a beta of 1.70.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $49.90 million during 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%. Equities research analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share 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.