Semanteon Capital Management LP Invests $965,000 in Clearfield, Inc. (NASDAQ:CLFD)

Semanteon Capital Management LP acquired a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,173 shares of the communications equipment provider’s stock, valued at approximately $965,000. Semanteon Capital Management LP owned 0.22% of Clearfield as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CLFD. Denali Advisors LLC bought a new stake in shares of Clearfield in the 3rd quarter valued at about $186,000. Bank of New York Mellon Corp raised its stake in Clearfield by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 102,381 shares of the communications equipment provider’s stock valued at $2,934,000 after buying an additional 819 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Clearfield by 109.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock worth $78,000 after acquiring an additional 1,423 shares during the last quarter. Barclays PLC increased its holdings in shares of Clearfield by 69.6% during the third quarter. Barclays PLC now owns 17,612 shares of the communications equipment provider’s stock valued at $505,000 after acquiring an additional 7,226 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Clearfield by 61.5% in the 3rd quarter. New York State Common Retirement Fund now owns 17,813 shares of the communications equipment provider’s stock valued at $511,000 after purchasing an additional 6,782 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CLFD. Roth Mkm cut their price target on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $36.00 target price on shares of Clearfield in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.20.

Insider Buying and Selling

In related news, Chairman Ronald G. Roth purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was bought at an average cost of $29.62 per share, with a total value of $59,240.00. Following the completion of the acquisition, the chairman now owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.00% of the stock is owned by corporate insiders.

Clearfield Price Performance

CLFD traded down $0.24 during trading on Thursday, reaching $29.36. 103,993 shares of the company’s stock were exchanged, compared to its average volume of 202,332. Clearfield, Inc. has a 1 year low of $22.91 and a 1 year high of $50.82. The company’s fifty day simple moving average is $29.76 and its 200-day simple moving average is $27.94. The stock has a market capitalization of $431.89 million, a P/E ratio of 35.80 and a beta of 1.32.

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

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.