Los Angeles Capital Management LLC Takes Position in Clearfield, Inc. $CLFD

Los Angeles Capital Management LLC acquired a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 14,972 shares of the communications equipment provider’s stock, valued at approximately $650,000. Los Angeles Capital Management LLC owned approximately 0.11% of Clearfield as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Clearfield by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,222 shares of the communications equipment provider’s stock worth $215,000 after buying an additional 312 shares during the period. US Bancorp DE increased its holdings in shares of Clearfield by 705.0% in the 1st quarter. US Bancorp DE now owns 966 shares of the communications equipment provider’s stock valued at $29,000 after acquiring an additional 846 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Clearfield by 2,710.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 1,789 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Clearfield by 7.9% during the 1st quarter. American Century Companies Inc. now owns 25,370 shares of the communications equipment provider’s stock worth $754,000 after purchasing an additional 1,856 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in Clearfield by 32.8% during the first quarter. Ancora Advisors LLC now owns 13,880 shares of the communications equipment provider’s stock valued at $413,000 after purchasing an additional 3,430 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLFD. Northland Securities downgraded shares of Clearfield from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a report on Thursday, August 7th. Roth Capital reiterated a “buy” rating on shares of Clearfield in a research note on Thursday, August 7th. Northland Capmk cut shares of Clearfield from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Clearfield from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Clearfield in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.50.

Clearfield Trading Down 1.4%

NASDAQ:CLFD opened at $30.72 on Friday. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $46.76. The company has a market cap of $424.12 million, a PE ratio of 3,072.00 and a beta of 1.81. The company’s 50 day moving average is $34.45 and its two-hundred day moving average is $36.77.

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.