Fintel reports that on August 4, 2023, Needham reiterated coverage of Clearfield (NASDAQ:CLFD) with a Buy recommendation.
Analyst Price Forecast Suggests 66.04% Upside
As of August 2, 2023, the average one-year price target for Clearfield is 67.06. The forecasts range from a low of 38.38 to a high of $126.00. The average price target represents an increase of 66.04% from its latest reported closing price of 40.39.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Clearfield is 392MM, an increase of 24.69%. The projected annual non-GAAP EPS is 4.35.
What is the Fund Sentiment?
There are 436 funds or institutions reporting positions in Clearfield. This is a decrease of 24 owner(s) or 5.22% in the last quarter. Average portfolio weight of all funds dedicated to CLFD is 0.10%, a decrease of 42.66%. Total shares owned by institutions increased in the last three months by 2.62% to 11,171K shares. 
The put/call ratio of CLFD is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 921K shares representing 6.04% ownership of the company. In it's prior filing, the firm reported owning 853K shares, representing an increase of 7.45%. The firm decreased its portfolio allocation in CLFD by 48.06% over the last quarter.
FRVLX - Franklin Small Cap Value Fund holds 445K shares representing 2.92% ownership of the company.
Neumeier Poma Investment Counsel holds 415K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 366K shares, representing an increase of 11.88%. The firm increased its portfolio allocation in CLFD by 56,248.81% over the last quarter.
Boston Partners holds 405K shares representing 2.66% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 391K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 385K shares, representing an increase of 1.31%. The firm decreased its portfolio allocation in CLFD by 53.70% over the last quarter.
Clearfield Background Information
(This description is provided by the company.)
Clearfield, Inc. designs, manufactures, and distributes fiber optic management, protection and delivery products for communications networks. Its "fiber toanywhere" platform serves the unique requirements of leading incumbent local exchange carriers (traditional carriers), competitive local exchange carriers (alternative carriers), and MSO/cable TV companies, while also catering to the broadband needs of the utility/municipality, enterprise, data center and military markets. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year.
Additional reading:
- UPDATE -- Clearfield Reports Fiscal Third Quarter 2023 Results
- Clearfield Reports Fiscal Third Quarter 2023 Results
- Clearfield Earnings Presentation: Fiscal Q3 2023 Earnings Call August 3, 2023 1 Important Cautions Regarding Forward - Looking Statements 2 Forward - looking statements contained herein and in any related presentation or in the related Earnings Relea
- Clearfield Earnings Presentation: Fiscal Q2 2023 Earnings Call May 4, 2023 1 1 3 Introduction & Highlights Good afternoon everyone, and thank you for joining us today to discuss Clearfield’s results for the second quarter of fiscal 2023. We will also
- Clearfield Reports Fiscal Second Quarter 2023 Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
