Royce & Associates LP Lowers Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Royce & Associates LP trimmed its position in Clearfield, Inc. (NASDAQ:CLFD) by 6.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 464,345 shares of the communications equipment provider’s stock after selling 31,932 shares during the period. Royce & Associates LP’s holdings in Clearfield were worth $18,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CLFD. SG Americas Securities LLC lifted its holdings in Clearfield by 8.3% in the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 279 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Clearfield by 2.7% in the second quarter. SummerHaven Investment Management LLC now owns 15,503 shares of the communications equipment provider’s stock valued at $598,000 after acquiring an additional 405 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Clearfield by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock valued at $233,000 after acquiring an additional 510 shares during the period. Creative Planning lifted its holdings in Clearfield by 0.5% in the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock valued at $3,841,000 after acquiring an additional 511 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Clearfield by 2.3% in the first quarter. Janus Henderson Group PLC now owns 33,941 shares of the communications equipment provider’s stock valued at $1,047,000 after acquiring an additional 777 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CLFD shares. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Friday, November 8th. Northland Securities lifted their price target on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Roth Mkm cut their price target on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Lake Street Capital raised Clearfield from a “hold” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Clearfield Trading Down 4.6 %

Shares of CLFD stock opened at $28.26 on Friday. The firm has a 50-day moving average price of $37.09 and a 200 day moving average price of $37.72. Clearfield, Inc. has a twelve month low of $24.78 and a twelve month high of $44.83. The company has a market capitalization of $402.42 million, a price-to-earnings ratio of -34.05 and a beta of 1.35. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The firm had revenue of $46.80 million during the quarter, compared to the consensus estimate of $41.95 million. During the same quarter in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Research analysts forecast that Clearfield, Inc. will post -0.05 earnings per share for the current fiscal year.

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.