Semanteon Capital Management LP Reduces Position in Clearfield, Inc. (NASDAQ:CLFD)

Semanteon Capital Management LP lowered its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 2.4% in the third quarter, Holdings Channel.com reports. The fund owned 28,564 shares of the communications equipment provider’s stock after selling 712 shares during the quarter. Semanteon Capital Management LP’s holdings in Clearfield were worth $1,113,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Redwood Wealth Management Group LLC bought a new stake in Clearfield during the 2nd quarter valued at $75,000. Canada Pension Plan Investment Board bought a new position in Clearfield during the 2nd quarter worth about $85,000. SG Americas Securities LLC purchased a new position in Clearfield during the 2nd quarter valued at about $130,000. Squarepoint Ops LLC bought a new stake in shares of Clearfield in the 2nd quarter valued at about $217,000. Finally, Moody National Bank Trust Division purchased a new stake in shares of Clearfield in the 2nd quarter worth approximately $252,000. Institutional investors own 88.73% of the company’s stock.

Clearfield Price Performance

Shares of NASDAQ:CLFD traded down $0.15 during midday trading on Monday, reaching $36.28. 2,195 shares of the company’s stock traded hands, compared to its average volume of 155,676. The company has a market cap of $516.37 million, a P/E ratio of -145.72 and a beta of 1.34. The company has a fifty day simple moving average of $37.72 and a two-hundred day simple moving average of $37.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. Clearfield, Inc. has a 1 year low of $22.91 and a 1 year high of $44.83.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.30. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The company had revenue of $48.79 million during the quarter, compared to the consensus estimate of $42.13 million. During the same quarter in the prior year, the firm earned $0.33 EPS. Clearfield’s quarterly revenue was down 20.4% on a year-over-year basis. Equities analysts predict that Clearfield, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Clearfield

In related news, Director Walter Louis Jones, Jr. bought 1,324 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $37.77 per share, for a total transaction of $50,007.48. Following the acquisition, the director now owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CLFD. StockNews.com downgraded shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Tuesday, September 24th. Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and raised their price target for the company from $31.00 to $47.00 in a report on Friday, August 2nd. Roth Mkm reduced their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Northland Securities lifted their price target on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.75.

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.