LPL Financial LLC Increases Position in Clearfield, Inc. (NASDAQ:CLFD)

LPL Financial LLC grew its position in Clearfield, Inc. (NASDAQ:CLFD – Get Rating) by 15.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,024 shares of the communications equipment provider’s stock after buying an additional 2,170 shares during the period. LPL Financial LLC owned 0.11% of Clearfield worth $1,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in Clearfield in the first quarter valued at $606,000. Bank of New York Mellon Corp raised its position in Clearfield by 19.6% during the first quarter. Bank of New York Mellon Corp now owns 72,872 shares of the communications equipment provider’s stock valued at $4,753,000 after acquiring an additional 11,956 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Clearfield by 32.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,105 shares of the communications equipment provider’s stock valued at $268,000 after acquiring an additional 1,009 shares during the period. Cetera Advisor Networks LLC purchased a new stake in Clearfield in the 1st quarter worth approximately $263,000. Finally, MetLife Investment Management LLC grew its stake in shares of Clearfield by 53.4% during the 1st quarter. MetLife Investment Management LLC now owns 6,062 shares of the communications equipment provider’s stock worth $395,000 after purchasing an additional 2,111 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CLFD. Needham & Company LLC dropped their price target on shares of Clearfield from $95.00 to $50.00 in a research report on Friday, May 5th. Cowen lowered their price objective on shares of Clearfield from $141.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Lake Street Capital downgraded Clearfield from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Northland Securities reduced their price target on shares of Clearfield from $120.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Finally, TheStreet cut shares of Clearfield from a “b-” rating to a “c+” rating in a report on Wednesday, March 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Clearfield Stock Up 1.7 %

Clearfield stock opened at $37.73 on Friday. The stock has a market cap of $575.38 million, a PE ratio of 9.90 and a beta of 1.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.51 and a quick ratio of 5.00. The stock’s fifty day moving average is $42.34 and its two-hundred day moving average is $69.78. Clearfield, Inc. has a 1-year low of $30.00 and a 1-year high of $134.90.

Clearfield Company Profile

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Clearfield, Inc engages in the design, manufacture, and distribution of fiber protection. It operates through the Clearfield and Nestor Cable segment. The Clearfield segment involves the design, manufacture, and selling of fiber management, protection, and delivery solutions. The Nestor Cables segment includes designs, manufacture, and selling fiber management, protection, and delivery solutions.