Clearfield (CLFD)
Market Price (11/10/2026): $30.48 | Market Cap: $414.0 MilSector: Information Technology | Industry: Communications Equipment
Clearfield (CLFD)
Market Price (11/10/2026): $30.48Market Cap: $414.0 MilSector: Information TechnologyIndustry: Communications Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -22% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity. Themes include Telecom Infrastructure, and Network Equipment. | Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -52% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.02 | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 67x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.4% Key risksCLFD key risks include its heavy reliance on unpredictable broadband provider capital spending, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -22% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity. Themes include Telecom Infrastructure, and Network Equipment. |
| Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -52% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.02 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 67x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.4% |
| Key risksCLFD key risks include its heavy reliance on unpredictable broadband provider capital spending, Show more. |
Qualitative Assessment
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Clearfield (CLFD) stock has remained largely at the same level since 7/31/2026 because of the following key factors:
1. Clearfield's fiscal Q3 2026 results, reported on August 5, 2026, presented a mixed picture, leading to weakened fiscal year guidance despite an earnings beat. The company reported diluted earnings per share (EPS) from continuing operations of $0.22, surpassing consensus estimates of $0.19. However, this positive was overshadowed by a significant reduction in its fiscal 2026 outlook, with projected net sales lowered to $151 million to $155 million and net income per share to $0.14 to $0.21. This revised guidance reflected "industry demand constraints" and a substantial decline in order backlog, which fell by 34% sequentially and 32% year-over-year, partly due to the removal of a $4.6 million previously booked order that Clearfield no longer expects to fulfill.
2. Persistent broadband market headwinds, notably delays in the Broadband Equity, Access, and Deployment (BEAD) program funding and industry-wide fiber shortages, continued to temper growth in Clearfield's core market. These macroeconomic and industry-specific challenges directly contributed to the company's reduced fiscal 2026 guidance. Furthermore, Clearfield's gross margin from continuing operations contracted to 31.8% in fiscal Q3 2026, down from 35.3% in the prior-year quarter, largely due to a $2.6 million inventory charge associated with the unfulfilled order, equating to approximately a 5.9 percentage point reduction in gross margin.
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Clearfield (CLFD) stock has remained largely at the same level since 7/31/2026 because of the following key factors:
1. Clearfield's fiscal Q3 2026 results, reported on August 5, 2026, presented a mixed picture, leading to weakened fiscal year guidance despite an earnings beat. The company reported diluted earnings per share (EPS) from continuing operations of $0.22, surpassing consensus estimates of $0.19. However, this positive was overshadowed by a significant reduction in its fiscal 2026 outlook, with projected net sales lowered to $151 million to $155 million and net income per share to $0.14 to $0.21. This revised guidance reflected "industry demand constraints" and a substantial decline in order backlog, which fell by 34% sequentially and 32% year-over-year, partly due to the removal of a $4.6 million previously booked order that Clearfield no longer expects to fulfill.
2. Persistent broadband market headwinds, notably delays in the Broadband Equity, Access, and Deployment (BEAD) program funding and industry-wide fiber shortages, continued to temper growth in Clearfield's core market. These macroeconomic and industry-specific challenges directly contributed to the company's reduced fiscal 2026 guidance. Furthermore, Clearfield's gross margin from continuing operations contracted to 31.8% in fiscal Q3 2026, down from 35.3% in the prior-year quarter, largely due to a $2.6 million inventory charge associated with the unfulfilled order, equating to approximately a 5.9 percentage point reduction in gross margin.
3. A significant new $22 million hyperscale data center project order provided an offsetting growth catalyst and a strategic pivot amidst broadband market softness. After the close of fiscal Q3 2026 (which ended June 30, 2026), Clearfield secured its first substantial order to support a hyperscale data center project, with shipments anticipated to commence in early fiscal Q1 2027. This move into the data center market, further supported by the acceleration of data center fiber deployment with its new NOVA™ Velocity Panel in September 2026, indicates a strategic expansion into high-growth areas, partially balancing the ongoing challenges in its traditional broadband segment.
4. The announcement of a CEO succession plan introduced an element of future uncertainty, which may have contributed to the stock's flat trend. On October 20, 2026, Clearfield announced that President and CEO Cheri Beranek would retire effective March 31, 2027, initiating a search for her successor. While a planned transition, leadership changes can often lead to a "wait-and-see" approach from investors, potentially limiting significant upward movement in the stock price until a new leader is appointed and a clear strategic direction is established.
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Stock Movement Drivers
Fundamental Drivers
The 1.0% change in CLFD stock from 7/31/2026 to 11/9/2026 was primarily driven by a 3.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312026 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.26 | 30.55 | 1.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 149 | 154 | 3.4% |
| P/S Multiple | 2.8 | 2.7 | -3.0% |
| Shares Outstanding (Mil) | 14 | 14 | 0.6% |
| Cumulative Contribution | 1.0% |
Market Drivers
7/31/2026 to 11/9/2026| Return | Correlation | |
|---|---|---|
| CLFD | 1.0% | |
| Market (SPY) | 0.8% | 56.5% |
| Sector (XLK) | -2.5% | 58.3% |
Fundamental Drivers
The 5.7% change in CLFD stock from 4/30/2026 to 11/9/2026 was primarily driven by a 4.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.89 | 30.55 | 5.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 155 | 154 | -0.7% |
| P/S Multiple | 2.6 | 2.7 | 4.4% |
| Shares Outstanding (Mil) | 14 | 14 | 2.0% |
| Cumulative Contribution | 5.7% |
Market Drivers
4/30/2026 to 11/9/2026| Return | Correlation | |
|---|---|---|
| CLFD | 5.7% | |
| Market (SPY) | 5.0% | 47.3% |
| Sector (XLK) | 7.3% | 55.4% |
Fundamental Drivers
The -13.5% change in CLFD stock from 10/31/2025 to 11/9/2026 was primarily driven by a -36.5% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.30 | 30.55 | -13.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 115 | 154 | 34.0% |
| P/S Multiple | 4.3 | 2.7 | -36.5% |
| Shares Outstanding (Mil) | 14 | 14 | 1.8% |
| Cumulative Contribution | -13.5% |
Market Drivers
10/31/2025 to 11/9/2026| Return | Correlation | |
|---|---|---|
| CLFD | -13.5% | |
| Market (SPY) | 11.3% | 47.2% |
| Sector (XLK) | 14.1% | 53.7% |
Fundamental Drivers
The 27.2% change in CLFD stock from 10/31/2023 to 11/9/2026 was primarily driven by a 131.6% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.02 | 30.55 | 27.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 314 | 154 | -51.1% |
| P/S Multiple | 1.2 | 2.7 | 131.6% |
| Shares Outstanding (Mil) | 15 | 14 | 12.2% |
| Cumulative Contribution | 27.2% |
Market Drivers
10/31/2023 to 11/9/2026| Return | Correlation | |
|---|---|---|
| CLFD | 27.2% | |
| Market (SPY) | 86.2% | 47.2% |
| Sector (XLK) | 112.1% | 48.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CLFD Return | 242% | 12% | -69% | 7% | -6% | 5% | 24% |
| Peers Return | 51% | -10% | -12% | 39% | 43% | 27% | 202% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 96% |
Monthly Win Rates [3] | |||||||
| CLFD Win Rate | 75% | 58% | 25% | 58% | 50% | 55% | |
| Peers Win Rate | 65% | 38% | 45% | 58% | 67% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| CLFD Max Drawdown | -25% | -44% | -77% | -37% | -39% | -48% | |
| Peers Max Drawdown | -23% | -31% | -39% | -26% | -36% | -54% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GLW, APH, BDC, ADTN, OCC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/9/2026 (YTD)
How Low Can It Go
| Event | CLFD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.2% | -18.8% |
| % Gain to Breakeven | 30.3% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -52.3% | -9.5% |
| % Gain to Breakeven | 109.8% | 10.5% |
| Time to Breakeven | 940 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.6% | -24.5% |
| % Gain to Breakeven | 71.2% | 32.4% |
| Time to Breakeven | 187 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -25.1% | -33.7% |
| % Gain to Breakeven | 33.6% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.7% | -19.2% |
| % Gain to Breakeven | 55.4% | 23.8% |
| Time to Breakeven | 60 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -33.1% | -3.7% |
| % Gain to Breakeven | 49.6% | 3.9% |
| Time to Breakeven | 1151 days | 6 days |
In The Past
Clearfield's stock fell -23.2% during the 2025 US Tariff Shock. Such a loss loss requires a 30.3% gain to breakeven.
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| Event | CLFD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.2% | -18.8% |
| % Gain to Breakeven | 30.3% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -52.3% | -9.5% |
| % Gain to Breakeven | 109.8% | 10.5% |
| Time to Breakeven | 940 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.6% | -24.5% |
| % Gain to Breakeven | 71.2% | 32.4% |
| Time to Breakeven | 187 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -25.1% | -33.7% |
| % Gain to Breakeven | 33.6% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.7% | -19.2% |
| % Gain to Breakeven | 55.4% | 23.8% |
| Time to Breakeven | 60 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -33.1% | -3.7% |
| % Gain to Breakeven | 49.6% | 3.9% |
| Time to Breakeven | 1151 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -35.2% | -12.2% |
| % Gain to Breakeven | 54.4% | 13.9% |
| Time to Breakeven | 164 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -28.4% | -17.9% |
| % Gain to Breakeven | 39.6% | 21.8% |
| Time to Breakeven | 64 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -22.7% | -53.4% |
| % Gain to Breakeven | 29.4% | 114.4% |
| Time to Breakeven | 18 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -33.9% | -8.6% |
| % Gain to Breakeven | 51.2% | 9.5% |
| Time to Breakeven | 73 days | 47 days |
In The Past
Clearfield's stock fell -23.2% during the 2025 US Tariff Shock. Such a loss loss requires a 30.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Clearfield (CLFD)
Clearfield, Inc. (CLFD) manufactures and sells passive connectivity products essential for fiber optic networks, both domestically and internationally. The company's primary focus is on providing infrastructure components that facilitate the deployment and management of fiber-to-the-premises (FTTP) and other high-speed broadband communication systems.
Clearfield's comprehensive product portfolio includes FieldSmart, a series of panels, cabinets, and enclosures for fiber management, and WaveSmart optical components integrated for signal coupling, splitting, and termination. They also offer StreetSmart fiber management products, FieldShield for fiber pathway protection to reduce deployment costs, and the YOURx platform featuring hardened terminals and various drop cable options for the access network. Additionally, CraftSmart provides optical protection field enclosures for the last mile, and the company designs custom fiber and copper assemblies tailored to customer specifications.
The company serves a diverse customer base through its "fiber to anywhere" platform. Its primary customers include incumbent and competitive local exchange carriers, wireless operators, multiple systems operators (cable TV companies), and entities within the utility/municipality sector. Clearfield also caters to enterprise clients, data centers, and original equipment manufacturers (OEMs), supplying critical connectivity infrastructure for modern communication demands.
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Here are 1-3 brief analogies for Clearfield (CLFD):
- Corning for fiber optic management and connectivity products. (Corning is known for manufacturing fiber optic cable; Clearfield specializes in the enclosures, panels, and passive components that manage, protect, and connect those fiber cables.)
- Eaton for fiber optic infrastructure components. (Similar to how Eaton provides essential electrical infrastructure and power management solutions, Clearfield provides the specialized physical infrastructure and connectivity components for fiber optic networks.)
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- FieldSmart: A series of panels, cabinets, wall boxes, and other enclosures for fiber management.
- WaveSmart: Optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation.
- StreetSmart: A portfolio of fiber management products.
- FieldShield: A fiber pathway and protection method designed to reduce the cost of broadband deployment.
- YOURx platform: Consists of hardened terminals, test access points, and various drop cable options for portions of the access network.
- CraftSmart: A line of optical protection field enclosures, including pedestals and vaults, optimized to house FieldSmart products.
- Fiber and Copper Assemblies: Industry-standard or customer-specified configurations for network connectivity.
- Custom Solutions: Designs and manufactures custom solutions for in-the-box and network connectivity assemblies specific to a customer's product line.
- Fiber to Anywhere Platform: Their comprehensive platform providing fiber connectivity solutions for various incumbent local exchange carriers, competitive local exchange carriers, wireless operators, and multiple systems operators.
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Clearfield (CLFD) primarily sells its products and solutions to other companies and organizations, rather than directly to individuals.
Based on the provided company description, Clearfield serves a diverse range of customer categories within the telecommunications and data infrastructure sectors. While specific company names of major customers are not disclosed in the description, the categories of companies Clearfield serves include:
- Incumbent local exchange carriers (ILECs)
- Competitive local exchange carriers (CLECs)
- Wireless operators
- Multiple systems operators (MSOs) and cable TV companies
- Utility/municipality markets
- Enterprise markets
- Data center markets
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Cheri Beranek, President and Chief Executive Officer
Cheri Beranek has served as CEO of Clearfield since 2007, guiding the company's transformation into a leader in fiber optics. Before Clearfield, she held executive roles at Americable, APACN, Transition Networks, Tricord Systems, Inc., and Digi International. Clearfield (formerly APA Enterprises, Inc.) acquired Americable, where she previously served as President and COO. She was recognized as EY Entrepreneur Of The Year® in 2023 and inducted into the Minnesota Business Hall of Fame in 2021.
Daniel Herzog, Chief Financial Officer
Daniel Herzog was appointed Chief Financial Officer of Clearfield in August 2011, having served as Interim CFO since February 2011. Prior to this, he held positions as Vice President of Administration and Comptroller/principal accounting officer at Clearfield. Before joining Clearfield in 2003, he spent 13 years as Controller and Chief Financial Officer at Americable, which was acquired by Clearfield (firm) in 2003. His experience also includes financial leadership roles in both publicly and privately held manufacturing and software industries, such as Schwing America and Computer Designed Systems, Inc.
Johnny Hill, Chief Operating Officer
Johnny Hill is a founding member of Clearfield and was named Chief Operating Officer in 2008. He brings approximately 25 years of strategic and hands-on experience in the telecommunications networking industry. Hill began his career at Americable Inc. in 1996, where he was the national sales manager when the company was acquired by Clearfield's precursor, APA Cables & Networks, in 2003. His roles at Clearfield prior to COO included Vice President of Sales, Vice President of Product Management and Development, and Vice President of Engineering and Product Management.
Anis Khemakhem, Chief Commercial Officer
Anis Khemakhem was appointed Chief Commercial Officer (CCO) on October 1, 2025, with expanded responsibilities encompassing global sales and marketing. He joined Clearfield in 2024, initially as Vice President of Global Technology Platforms and then as Chief Marketing Officer. Before his tenure at Clearfield, Khemakhem served as Global Director of Sales at Carlisle Interconnect Technologies and held business development leadership roles for ten years at Amphenol. He also has experience in strategic market development from his time at ADC Telecommunications and TE Connectivity.
Kevin Morgan, Executive Advisor to the CEO
Kevin Morgan joined Clearfield in August 2016 as Chief Marketing Officer and transitioned to the role of Executive Advisor to the CEO in 2025. Before Clearfield, he held various senior marketing positions at ADTRAN, Inc. for two decades, gaining extensive experience in advanced communications technology and fiber optic systems. Earlier in his career, he spent nearly ten years at BellSouth (now part of AT&T), where he was the lead product evaluations resource for broadband technologies in the Science & Technology department.
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1. Reliance on Capital Spending by Broadband Service Providers
Clearfield's financial stability and growth prospects are heavily tied to the capital expenditure cycles of broadband service providers, which are inherently unpredictable and subject to sudden changes. The cyclical nature of spending in the broadband communications industry, influenced by economic conditions, technological advancements, and regulatory factors, can lead to significant fluctuations in Clearfield's revenue streams. For instance, a period of strong demand led to customers building excess inventories, resulting in subsequent order postponements and a substantial drop in Clearfield's sales and profit margins. Furthermore, government funding programs, such as the Broadband Equity, Access, and Deployment (BEAD) Program, while offering future growth opportunities, can also introduce unpredictable and irregular purchase cycles for customers, impacting the timing of revenue generation.2. Supply Chain Disruptions and Reliance on Single-Source Suppliers
Clearfield faces significant operational risks due to potential disruptions in its supply chain and its reliance on a limited number of, or even single-source, suppliers for critical components. Geopolitical tensions, trade policies, and global conflicts can impact supply chains, leading to increased costs and potential delays or an inability to complete customer orders. A specific and current example of this risk is the U.S. fiber supply constraints, particularly for U.S.-made optical fiber required under Build America, Buy America (BABA) rules, where lead times can exceed a year with some suppliers, potentially delaying BEAD project deployments and associated revenue.3. Customer Concentration and Intense Market Competition
The company is vulnerable due to a concentration of its sales among a small number of major customers. For example, two customers represented 33% of net sales in fiscal year 2025. The loss or a significant reduction in business from any of these major customers could materially and adversely affect Clearfield's financial performance. Additionally, Clearfield operates in a highly competitive market for fiber management and connectivity products, facing competition from larger firms with greater resources. This intense competition can lead to price reductions, pressure on gross profits, and a potential loss of market share.AI Analysis | Feedback
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Clearfield (CLFD) operates within the expansive fiber optic connectivity and fiber-to-the-premises (FTTP) markets, offering a range of passive connectivity products for broadband deployment, enterprises, and original equipment manufacturers (OEMs). The addressable markets for their products and services are significant globally and within North America.
The **global fiber optic connectivity market** was valued at approximately USD 3.55 billion in 2025 and is projected to reach USD 8.96 billion by 2035, exhibiting a compound annual growth rate (CAGR) of 9.7% from 2026 to 2035. Other estimates place the global fiber optic connectivity market at USD 3.78 billion in 2025, with a projected growth to USD 15.09 billion by 2034 at a CAGR of 16.64% during the forecast period. Another source estimates the global fiber optics market size at USD 10.76 billion in 2025, expecting it to reach USD 17.95 billion by 2033 with a CAGR of 6.6% from 2026 to 2033.
For the **Fiber to the Premises (FTTP) market**, which is a core focus for Clearfield, the global market size was estimated at USD 24.88 billion in 2024 and is projected to grow to USD 73.16 billion by 2035, at a CAGR of 10.3% from 2025 to 2035. Another valuation for the global FTTP market was USD 25,278.77 million in 2025, with an expected increase to USD 64,035.18 million by 2032, growing at a CAGR of 14.2%. The FTTx networks segment alone held a 31% share of the global optical fiber connectivity market in 2024.
Focusing on the **North American region**, the United States fiber to the home (FTTH) market generated a revenue of USD 10,726.5 million in 2024 and is anticipated to reach USD 21,545.1 million by 2030, demonstrating a CAGR of 12.7% from 2025 to 2030. North America currently holds a significant share, approximately 40%, of the global fiber optic connectivity market. Furthermore, North America is identified as the largest market for Fiber to the Premises (FTTP), accounting for about 45% of the global market share. There is also a large remaining addressable market for fiber build in the U.S. alone, with more than 100 million potential incremental passings for FTTH.
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- Government Funding and Broadband Expansion: The Broadband Equity, Access, and Deployment (BEAD) program and other government initiatives like E-ACAM are expected to be significant catalysts for Clearfield's revenue growth. These programs are designed to fuel fiber connectivity expansion, particularly in the Community Broadband market and among Tier-3 service providers, leading to increased demand for Clearfield's fiber optic management and connectivity products.
- Increased Demand from Key Customer Segments: Clearfield foresees sustained and improving demand from its core customer base, including community broadband providers, large regional service providers, and multiple system operators (MSOs). After a period of industry-wide inventory digestion, these segments are showing signs of stabilizing and re-accelerating their fiber broadband deployments, which is expected to translate into higher sales for Clearfield.
- New Product Innovation and Adoption: The company's strategic introduction of new platforms, such as the NOVA™ platform, is a crucial driver. This platform is designed to optimize scalability and simplify installation for high-density fiber connectivity and is projected to become a dominant product offering within 2-3 years. The NOVA platform aims to extend Clearfield's addressable market, particularly in areas like AI, data centers, and edge compute networks, contributing to future revenue.
- Market Recovery from Inventory Overhang: The telecommunications industry has been working through an inventory overhang, which has temporarily slowed demand for fiber optic equipment. As customers successfully deplete their existing inventories and return to more normalized ordering patterns, Clearfield expects to see a rebound in demand. This market adjustment, coupled with prudent guidance, is projected to drive core revenue increases in the coming fiscal years.
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Clearfield (CLFD) Capital Allocation Decisions (2021-2025)
Share Repurchases
- In November 2025, Clearfield's Board of Directors authorized an increase to the company's common stock share repurchase program, raising the total authorization from $65 million to $85 million.
- The company repurchased $16.5 million in shares during fiscal year 2025.
- As of December 31, 2025, approximately $23.1 million remained available for additional repurchases under the program.
Outbound Investments
- Clearfield, Inc. acquired Finnish company Nestor Cables Ltd., a developer and manufacturer of fiber optic cable solutions, on July 26, 2022.
- This acquisition was undertaken to gain access to key technology for manufacturing FieldShield cable, and to strengthen vertical integration and compliance with Build America, Buy America requirements.
- In November 2025, Clearfield divested its Nestor Cables business through a management buyout to sharpen its focus on the core business and pursue higher-return opportunities.
Capital Expenditures
- Capital expenditures for Clearfield were $9.15 million in 2022, $8.38 million in 2023, and $9.57 million in 2024.
- These investments support the development and deployment of fiber connectivity solutions for various markets including community broadband, data centers, and wireless networks.
- The company introduced the NOVA platform in January 2026, a modular high-density fiber ecosystem for data centers, broadband central offices, and enterprise sites, reflecting ongoing investment in product innovation.
Peer Outperformance in Communications Equipment
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 10 | 15.6% | 110.8% | 187.8% | FLEX 499% · TTMI 428% · JBL 303% |
| Technology Distributors | 9 | 50.7% | 59.2% | 59.9% | AVT 146% · SNX 118% · CNXN 77% |
| Semiconductor Materials & Equipment | 28 | 39.5% | 48.2% | 43.1% | AXTI 370% · KLAC 281% · LRCX 274% |
| Communications Equipment ← | 36 | 10.5% | 99.8% | 38.1% | AAOI 806% · LITE 546% · ANET 461% |
| Electronic Components | 24 | 20.6% | 78.5% | 33.8% | CLS 1838% · BELFA 1082% · APH 310% |
| Electronic Equipment & Instruments | 27 | -5.1% | 32.8% | -0.4% | PI 129% · OSIS 112% · MIR 70% |
| Semiconductors | 55 | 12.1% | 44.0% | -5.3% | MU 893% · AVGO 526% · NVDA 485% |
| Technology Hardware, Storage & Peripherals | 21 | 13.0% | 88.7% | -8.8% | WDC 592% · DELL 581% · SMCI 538% |
| IT Consulting & Other Services | 30 | -17.7% | -7.7% | -25.2% | APLD 293% · IBM 142% · GIB -10% |
| Internet Services & Infrastructure | 6 | -9.8% | 38.8% | -29.7% | GDDY 56% · VRSN 33% · AKAM -27% |
| Systems Software | 70 | -7.3% | 17.7% | -52.9% | ZETA 227% · CRWD 212% · CVLT 145% |
| Application Software | 126 | -11.5% | -11.7% | -55.7% | PLTR 598% · FROG 180% · AGYS 141% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Clearfield Earnings Notes | 12/16/2025 | |
| How Low Can Clearfield Stock Really Go? | 10/17/2025 | |
| Should You Buy Clearfield Stock? | 08/09/2025 | |
| Why Clearfield Stock Moved: CLFD Stock Has Lost 70% Since 2022 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S) | 08/08/2025 | |
| Clearfield (CLFD) Valuation Ratios Comparison | 08/08/2025 | |
| CLFD Dip Buy Analysis | 07/10/2025 | |
| Clearfield (CLFD) Operating Cash Flow Comparison | 02/17/2025 | |
| Clearfield (CLFD) Net Income Comparison | 02/15/2025 | |
| Clearfield (CLFD) Operating Income Comparison | 02/14/2025 | |
| Clearfield (CLFD) Revenue Comparison | 02/13/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 55.37 |
| Mkt Cap | 4.2 |
| Rev LTM | 3,133 |
| Op Inc LTM | 282 |
| FCF LTM | 229 |
| FCF 3Y Avg | 218 |
| CFO LTM | 401 |
| CFO 3Y Avg | 369 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.8% |
| Rev Chg 3Y Avg | 6.9% |
| Rev Chg Q | 18.4% |
| QoQ Delta Rev Chg LTM | 4.5% |
| Op Inc Chg LTM | 46.0% |
| Op Inc Chg 3Y Avg | 56.7% |
| Op Mgn LTM | 9.0% |
| Op Mgn 3Y Avg | 10.1% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 12.8% |
| CFO/Rev 3Y Avg | 16.8% |
| FCF/Rev LTM | 7.3% |
| FCF/Rev 3Y Avg | 10.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single segment | 150 | 126 | 226 | 141 | |
| Clearfield | 264 | ||||
| Eliminations | 0 | ||||
| Nestor Cables | 7 | ||||
| Total | 150 | 126 | 226 | 271 | 141 |
| $ Mil | 2007 | 2006 | 2005 | 2004 |
|---|---|---|---|---|
| Cables & Networks | -1 | -0 | 0 | |
| Optronics | -2 | -3 | -4 | |
| APA Optics | -6 | |||
| APACN | -1 | |||
| Total | -3 | -3 | -4 | -7 |
| $ Mil | 2024 | 2023 | 2022 |
|---|---|---|---|
| Eliminations | 0 | -1 | -0 |
| Nestor Cables | -3 | 1 | -0 |
| Clearfield | -9 | 33 | 50 |
| Total | -12 | 33 | 49 |
| $ Mil | 2024 | 2023 | 2022 | 2007 | 2006 |
|---|---|---|---|---|---|
| Clearfield | 300 | 335 | 215 | ||
| Nestor Cables | 39 | 44 | 31 | ||
| Eliminations | -24 | -23 | -17 | ||
| Cables & Networks | 7 | 8 | |||
| Optronics | 16 | 19 | |||
| Total | 315 | 356 | 229 | 24 | 27 |
Price Behavior
| Market Price | $30.55 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 08/07/1986 | |
| Distance from 52W High | -40.4% | |
| 50 Days | 200 Days | |
| DMA Price | $30.58 | $32.45 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -0.1% | -5.9% |
| 3M | 1YR | |
| Volatility | 54.4% | 63.8% |
| Downside Capture | 210.36 | 245.23 |
| Upside Capture | 254.66 | 203.98 |
| Correlation (S&P 500) | 63.2% | 46.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.24 | 2.53 | 2.70 | 2.63 | 2.10 | 1.58 |
| Up Beta | 3.70 | 0.60 | 1.89 | 1.36 | 1.14 | 1.21 |
| Down Beta | 2.78 | 3.18 | 2.28 | 2.96 | 2.55 | 1.46 |
| Up Capture | 432% | 351% | 381% | 436% | 351% | 794% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 11 | 23 | 34 | 63 | 123 | 397 |
| Down Capture | 282% | 186% | 256% | 220% | 164% | 112% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 11 | 20 | 29 | 61 | 126 | 348 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CLFD | |
|---|---|---|---|---|
| CLFD | -6.7% | 63.8% | 0.14 | - |
| Sector ETF (XLK) | 18.7% | 28.5% | 0.59 | 53.7% |
| Equity (SPY) | 13.3% | 13.7% | 0.65 | 47.1% |
| Gold (GLD) | 3.7% | 28.8% | 0.12 | 17.7% |
| Commodities (DBC) | 38.2% | 21.3% | 1.42 | -10.2% |
| Real Estate (VNQ) | 13.7% | 14.3% | 0.65 | 5.0% |
| Bitcoin (BTCUSD) | -25.3% | 43.6% | -0.55 | 25.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CLFD | |
|---|---|---|---|---|
| CLFD | -12.2% | 58.3% | 0.00 | - |
| Sector ETF (XLK) | 17.1% | 26.5% | 0.58 | 48.3% |
| Equity (SPY) | 11.8% | 17.3% | 0.51 | 48.1% |
| Gold (GLD) | 17.8% | 19.1% | 0.75 | 7.2% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 3.3% |
| Real Estate (VNQ) | 1.5% | 18.9% | -0.03 | 31.6% |
| Bitcoin (BTCUSD) | 4.4% | 51.6% | 0.27 | 25.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CLFD | |
|---|---|---|---|---|
| CLFD | 6.4% | 53.7% | 0.33 | - |
| Sector ETF (XLK) | 23.1% | 25.3% | 0.83 | 43.5% |
| Equity (SPY) | 15.3% | 18.0% | 0.72 | 44.4% |
| Gold (GLD) | 12.1% | 16.5% | 0.60 | 5.5% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 8.9% |
| Real Estate (VNQ) | 6.1% | 20.7% | 0.25 | 30.6% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 15.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/20/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -21.1% | -13.9% | -16.1% |
| 5/6/2026 | 23.8% | 40.4% | 32.2% |
| 2/4/2026 | -4.6% | 3.2% | -1.5% |
| 11/25/2025 | -4.6% | -3.7% | 1.9% |
| 8/6/2025 | -24.6% | -23.4% | -25.4% |
| 5/8/2025 | 7.8% | 22.5% | 22.9% |
| 2/6/2025 | -5.9% | -10.7% | -26.1% |
| 11/7/2024 | -7.1% | -19.5% | -12.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 13 |
| # Negative | 14 | 12 | 11 |
| Median Positive | 8.4% | 6.0% | 14.0% |
| Median Negative | -4.9% | -7.2% | -12.5% |
| Max Positive | 23.8% | 40.4% | 32.2% |
| Max Negative | -24.6% | -23.4% | -26.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -21.1% | -13.9% | -16.1% |
| 5/6/2026 | 23.8% | 40.4% | 32.2% |
| 2/4/2026 | -4.6% | 3.2% | -1.5% |
| 11/25/2025 | -4.6% | -3.7% | 1.9% |
| 8/6/2025 | -24.6% | -23.4% | -25.4% |
| 5/8/2025 | 7.8% | 22.5% | 22.9% |
| 2/6/2025 | -5.9% | -10.7% | -26.1% |
| 11/7/2024 | -7.1% | -19.5% | -12.2% |
| 8/1/2024 | -8.5% | -7.6% | -12.5% |
| 5/2/2024 | 13.2% | 15.0% | 25.0% |
| 2/1/2024 | 12.7% | 9.5% | 16.5% |
| 11/9/2023 | 1.7% | 8.6% | 14.0% |
| 8/3/2023 | -10.5% | -9.9% | -21.1% |
| 5/8/2023 | 1.9% | 3.4% | 24.5% |
| 2/6/2023 | 1.7% | -2.8% | -4.6% |
| 11/21/2022 | 4.8% | 3.3% | -18.5% |
| 7/29/2022 | -2.1% | 12.8% | 22.7% |
| 4/29/2022 | -2.6% | -5.7% | 6.1% |
| 1/28/2022 | 10.6% | -0.8% | 5.6% |
| 11/8/2021 | -0.1% | 2.4% | 2.7% |
| 7/23/2021 | -4.7% | 0.8% | 1.6% |
| 4/23/2021 | 9.0% | -6.5% | -1.4% |
| 2/1/2021 | -5.1% | 3.1% | -0.7% |
| 11/6/2020 | -1.4% | -6.8% | 3.6% |
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 13 |
| # Negative | 14 | 12 | 11 |
| Median Positive | 8.4% | 6.0% | 14.0% |
| Median Negative | -4.9% | -7.2% | -12.5% |
| Max Positive | 23.8% | 40.4% | 32.2% |
| Max Negative | -24.6% | -23.4% | -26.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/25/2025 | 10-K |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/15/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/05/2024 | 10-Q |
| 09/30/2023 | 11/29/2023 | 10-K |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/23/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/25/2025 | 10-K |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/15/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/05/2024 | 10-Q |
| 09/30/2023 | 11/29/2023 | 10-K |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/23/2022 | 10-K |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/02/2022 | 10-Q |
| 09/30/2021 | 11/10/2021 | 10-K |
| 06/30/2021 | 07/23/2021 | 10-Q |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 02/03/2021 | 10-Q |
| 09/30/2020 | 11/12/2020 | 10-K |
| 06/30/2020 | 07/30/2020 | 10-Q |
| 03/31/2020 | 05/01/2020 | 10-Q |
| 12/31/2019 | 01/29/2020 | 10-Q |
| 09/30/2019 | 11/15/2019 | 10-K |
Recent Forward Guidance
Updated 11/2/2026Latest: Q3 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Net Sales | Reported | 38.00 Mil | 40.00 Mil | 42.00 Mil | ||||
| Q4 2026 Net Income per Share | Reported | 0 | 0.04 | 0.07 | ||||
| 2026 Net Sales | Reported | 151.00 Mil | 153.00 Mil | 155.00 Mil | -7.3% | Lowered | Guidance: 165.00 Mil for 2026 | |
| 2026 Net Income per Share | Reported | 0.14 | 0.18 | 0.21 | ||||
Prior: Q2 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | Reported | 42.00 Mil | 44.00 Mil | 46.00 Mil | Higher New | |||
| Q3 2026 EPS | Reported | 0.17 | 0.19 | 0.21 | Higher New | |||
| 2026 Revenue | Reported | 160.00 Mil | 165.00 Mil | 170.00 Mil | 0 | Affirmed | Guidance: 165.00 Mil for 2026 | |
| 2026 Revenue Growth | Reported | 7.0% | 10.5% | 14.0% | Higher New | |||
Q1 2026 Earnings Reported 2/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Net Loss per Diluted Share | Reported | -0.1 | -0.06 | -0.02 | ||||
| Q2 2026 Net Sales | Reported | 32.00 Mil | 33.50 Mil | 35.00 Mil | ||||
| 2026 Net Sales | Reported | 160.00 Mil | 165.00 Mil | 170.00 Mil | 0 | Affirmed | Guidance: 165.00 Mil for 2026 | |
| 2026 Net Income per Share | Reported | 0.48 | 0.55 | 0.62 | 0 | Affirmed | Guidance: 0.55 for 2026 | |
Q4 2025 Earnings Reported 11/25/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | Reported | 30.00 Mil | 31.50 Mil | 33.00 Mil | -35.7% | Lower New | Guidance: 49.00 Mil for Q4 2025 | |
| Q1 2026 EPS | Reported | -0.08 | -0.04 | 0 | -157.1% | Lower New | Guidance: 0.07 for Q4 2025 | |
| 2026 Revenue | Reported | 160.00 Mil | 165.00 Mil | 170.00 Mil | -9.3% | Lower New | Guidance: 182.00 Mil for 2025 | |
| 2026 EPS | Reported | 0.48 | 0.55 | 0.62 | ||||
Insider Activity
Updated 7/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 7062026 | 40.06 | 1,778 | 71,227 | 19,748,498 | Form |
| 2 | Khemakhem, Anis | Chief Commercial Officer | Direct | Sell | 6112026 | 39.90 | 1,684 | 67,192 | 1,002,527 | Form |
| 3 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 6032026 | 46.92 | 7,500 | 351,900 | 23,203,864 | Form |
| 4 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 5282026 | 50.00 | 2,500 | 125,000 | 25,102,050 | Form |
| 5 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 5122026 | 45.02 | 2,500 | 112,550 | 22,714,436 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 7062026 | 40.06 | 1,778 | 71,227 | 19,748,498 | Form |
| 2 | Khemakhem, Anis | Chief Commercial Officer | Direct | Sell | 6112026 | 39.90 | 1,684 | 67,192 | 1,002,527 | Form |
| 3 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 6032026 | 46.92 | 7,500 | 351,900 | 23,203,864 | Form |
| 4 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 5282026 | 50.00 | 2,500 | 125,000 | 25,102,050 | Form |
| 5 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 5122026 | 45.02 | 2,500 | 112,550 | 22,714,436 | Form |
| 6 | Jones, Walter Louis JR | Direct | Sell | 5122026 | 46.05 | 2,391 | 110,106 | 399,806 | Form | |
| 7 | Beranek, Cheryl | Chief Executive Officer | Direct | Sell | 5122026 | 40.27 | 5,000 | 201,350 | 20,418,541 | Form |
| 8 | Hayward, Donald R | Direct | Sell | 2202026 | 32.00 | 3,595 | 115,040 | 347,840 | Form | |
| 9 | Roth, Ronald G | Direct | Buy | 12152025 | 30.06 | 10,000 | 300,600 | 38,454,676 | Form |
Investor Activity (13F)
Updated Nov 10, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Communications Equipment Resources |
| Light Reading |
| Fierce Network |
| Telecoms.com |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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