A10 Networks, Inc. $ATEN Shares Purchased by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its stake in A10 Networks by 2.5% in Q2, owning 828,616 shares valued at approximately $16 million, making it the 20th largest position in its portfolio.
• A10 Networks reported a quarterly earnings per share of $0.21, surpassing estimates of $0.20, with revenues of $69.38 million, reflecting a 15.5% increase year-over-year.
• The company recently declared a quarterly dividend of $0.06, representing an annualized dividend yield of 1.4% and a payout ratio of 35.29%.

Harbor Capital Advisors Inc. grew its holdings in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 828,616 shares of the communications equipment provider's stock after purchasing an additional 19,870 shares during the period. A10 Networks accounts for 0.7% of Harbor Capital Advisors Inc.'s portfolio, making the stock its 20th biggest position. Harbor Capital Advisors Inc. owned approximately 1.15% of A10 Networks worth $16,034,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of A10 Networks by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider's stock worth $6,806,000 after acquiring an additional 12,282 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of A10 Networks in the first quarter worth approximately $295,000. Squarepoint Ops LLC lifted its position in shares of A10 Networks by 363.8% in the fourth quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider's stock worth $2,206,000 after purchasing an additional 94,032 shares in the last quarter. GAMMA Investing LLC raised its position in A10 Networks by 1,938.5% during the first quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider's stock valued at $818,000 after acquiring an additional 47,610 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in A10 Networks by 50.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider's stock valued at $336,000 after acquiring an additional 6,893 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

Insider Buying and Selling at A10 Networks

In other news, CFO Brian Becker sold 6,400 shares of A10 Networks stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total transaction of $115,392.00. Following the completion of the sale, the chief financial officer owned 77,599 shares of the company's stock, valued at approximately $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.15% of the company's stock.

A10 Networks Stock Up 0.6%

NYSE ATEN traded up $0.10 during trading hours on Friday, reaching $18.17. 2,272,290 shares of the company's stock were exchanged, compared to its average volume of 623,473. The company's 50-day moving average is $17.84 and its two-hundred day moving average is $17.59. A10 Networks, Inc. has a one year low of $13.68 and a one year high of $21.90. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 26.72 and a beta of 1.37.

A10 Networks (NYSE:ATEN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The firm had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The business's revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. A10 Networks's dividend payout ratio (DPR) is currently 35.29%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ATEN shares. Deutsche Bank Aktiengesellschaft began coverage on shares of A10 Networks in a research report on Friday, June 27th. They set a "buy" rating and a $22.00 price objective on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a report on Thursday. BTIG Research upgraded A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Finally, Mizuho initiated coverage on shares of A10 Networks in a research note on Monday, July 14th. They issued a "neutral" rating on the stock. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Profile

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.