New York State Teachers Retirement System purchased a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,111 shares of the communications equipment provider’s stock, valued at approximately $1,163,000.
Several other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Clearfield by 1.0% during the first quarter. BlackRock Inc. now owns 799,227 shares of the communications equipment provider’s stock valued at $52,127,000 after buying an additional 7,603 shares during the period. Vanguard Group Inc. raised its holdings in Clearfield by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 590,120 shares of the communications equipment provider’s stock worth $38,488,000 after purchasing an additional 14,045 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Clearfield by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 432,241 shares of the communications equipment provider’s stock worth $28,191,000 after purchasing an additional 5,734 shares during the period. State Street Corp boosted its stake in shares of Clearfield by 11.8% during the 1st quarter. State Street Corp now owns 245,116 shares of the communications equipment provider’s stock valued at $15,986,000 after purchasing an additional 25,921 shares in the last quarter. Finally, Redwood Investments LLC increased its position in shares of Clearfield by 14.7% during the second quarter. Redwood Investments LLC now owns 235,818 shares of the communications equipment provider’s stock valued at $14,609,000 after buying an additional 30,218 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on CLFD. Cowen began coverage on shares of Clearfield in a report on Wednesday, January 4th. They issued an “outperform” rating and a $141.00 price objective for the company. Roth Capital initiated coverage on Clearfield in a research note on Tuesday. They issued a “buy” rating and a $120.00 target price for the company. Cowen assumed coverage on Clearfield in a research note on Wednesday, January 4th. They issued an “outperform” rating and a $141.00 price target on the stock. Lake Street Capital increased their price objective on Clearfield from $122.00 to $135.00 in a report on Friday, November 18th. Finally, Needham & Company LLC boosted their target price on shares of Clearfield from $115.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.
Clearfield Trading Down 4.2 %
Clearfield (NASDAQ:CLFD – Get Rating) last announced its quarterly earnings data on Thursday, November 17th. The communications equipment provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.80 by $0.42. The company had revenue of $95.03 million for the quarter, compared to the consensus estimate of $69.30 million. Clearfield had a net margin of 18.22% and a return on equity of 37.81%. As a group, equities analysts forecast that Clearfield, Inc. will post 4.7 EPS for the current fiscal year.
Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.
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