Vanguard Group Inc. Acquires 7,919 Shares of Clearfield, Inc. $CLFD

Key Points

• Vanguard Group Inc. increased its stake in Clearfield, Inc. by 0.8%, acquiring an additional 7,919 shares, bringing its total holdings to 952,059 shares valued at approximately $28.3 million.
• Institutional investors collectively own 88.73% of Clearfield, indicating strong institutional interest in the company.
• Analysts have mixed ratings on Clearfield, with recent downgrades leading to a consensus rating of "Moderate Buy" and a price target of $47.50.

Vanguard Group Inc. boosted its stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 952,059 shares of the communications equipment provider's stock after buying an additional 7,919 shares during the period. Vanguard Group Inc. owned about 6.74% of Clearfield worth $28,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of Clearfield in the 4th quarter valued at about $765,000. Raymond James Financial Inc. acquired a new position in shares of Clearfield in the 4th quarter valued at about $721,000. Graham Capital Management L.P. acquired a new position in shares of Clearfield in the 4th quarter valued at about $254,000. GAMMA Investing LLC increased its holdings in shares of Clearfield by 5,214.1% in the 1st 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. Finally, Wells Fargo & Company MN increased its holdings in shares of Clearfield by 25.0% in the 4th 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. Institutional investors and hedge funds own 88.73% of the company's stock.

Clearfield Price Performance

NASDAQ:CLFD traded down $0.48 during midday trading on Tuesday, reaching $32.14. The stock had a trading volume of 131,565 shares, compared to its average volume of 226,904. Clearfield, Inc. has a 1-year low of $23.78 and a 1-year high of $46.76. The firm's fifty day simple moving average is $39.15 and its 200-day simple moving average is $34.92. The stock has a market capitalization of $443.85 million, a P/E ratio of 3,214.00 and a beta of 1.70.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. Clearfield had a return on equity of 0.07% and a net margin of 0.11%.The company had revenue of $49.90 million during the quarter, compared to analysts' expectations of $47.58 million. On average, equities research analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CLFD. Northland Capmk downgraded Clearfield from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Roth Capital restated a "buy" rating on shares of Clearfield in a report on Thursday, August 7th. Northland Securities downgraded Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 price objective on the stock. in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $47.50.

About Clearfield

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.