33,173 Shares in Clearfield, Inc. (NASDAQ:CLFD) Bought by Semanteon Capital Management LP

Semanteon Capital Management LP purchased a new stake in Clearfield, Inc. (NASDAQ:CLFD) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 33,173 shares of the communications equipment provider’s stock, valued at approximately $965,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of Clearfield by 28.1% during the fourth quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 644 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Clearfield by 134.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 648 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Clearfield by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 102,381 shares of the communications equipment provider’s stock worth $2,934,000 after acquiring an additional 819 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Clearfield by 109.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 1,423 shares during the last quarter. Finally, Truvestments Capital LLC raised its position in shares of Clearfield by 44.2% during the 3rd quarter. Truvestments Capital LLC now owns 4,689 shares of the communications equipment provider’s stock worth $134,000 after acquiring an additional 1,438 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Ronald G. Roth bought 2,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $29.62 per share, with a total value of $59,240.00. Following the completion of the acquisition, the chairman now directly owns 1,259,796 shares in the company, valued at $37,315,157.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.00% of the stock is owned by insiders.

Clearfield Stock Performance

Clearfield stock traded down $0.24 during midday trading on Thursday, hitting $29.36. 103,993 shares of the company’s stock were exchanged, compared to its average volume of 202,332. The firm’s 50 day simple moving average is $29.76 and its 200 day simple moving average is $27.94. Clearfield, Inc. has a 12-month low of $22.91 and a 12-month high of $50.82. The stock has a market cap of $431.89 million, a price-to-earnings ratio of 35.80 and a beta of 1.32.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The company had revenue of $34.20 million during the quarter, compared to analysts’ expectations of $29.88 million. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was down 60.2% on a year-over-year basis. On average, equities research analysts forecast that Clearfield, Inc. will post -1.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CLFD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Clearfield in a report on Wednesday, April 17th. Roth Mkm decreased their price objective on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $42.20.

Clearfield Company 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.