Legato Capital Management LLC Has $1.24 Million Stake in A10 Networks, Inc. (NYSE:ATEN)

Legato Capital Management LLC lowered its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 27.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 75,635 shares of the communications equipment provider's stock after selling 29,058 shares during the period. Legato Capital Management LLC owned 0.10% of A10 Networks worth $1,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of A10 Networks in the 4th quarter worth about $50,000. CWM LLC raised its stake in A10 Networks by 45.6% during the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock worth $76,000 after acquiring an additional 1,454 shares during the period. Freestone Grove Partners LP acquired a new stake in A10 Networks during the fourth quarter worth about $197,000. iSAM Funds UK Ltd acquired a new stake in A10 Networks during the fourth quarter worth about $206,000. Finally, Polymer Capital Management US LLC acquired a new stake in A10 Networks during the fourth quarter worth about $210,000. Institutional investors own 98.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATEN. Craig Hallum upgraded shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research note on Friday, May 2nd. BWS Financial reiterated a "buy" rating and set a $24.00 price objective on shares of A10 Networks in a research note on Friday, May 2nd. Raymond James Financial began coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They set a "market perform" rating on the stock. Mizuho assumed coverage on shares of A10 Networks in a research note on Monday, July 14th. They set a "neutral" rating on the stock. Finally, Weiss Ratings restated a "hold (c)" rating on shares of A10 Networks in a research note on Thursday, July 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Insiders Place Their Bets

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the sale, the general counsel directly owned 61,007 shares in the company, valued at approximately $1,052,980.82. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.15% of the company's stock.

A10 Networks Price Performance

Shares of A10 Networks stock traded down $0.16 on Friday, hitting $18.57. The company had a trading volume of 420,275 shares, compared to its average volume of 897,567. The business has a 50-day simple moving average of $18.30 and a 200-day simple moving average of $18.20. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.05 and a quick ratio of 3.87. The company has a market cap of $1.34 billion, a PE ratio of 27.71, a PEG ratio of 4.40 and a beta of 1.39. A10 Networks, Inc. has a 52 week low of $12.27 and a 52 week high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $66.14 million during the quarter, compared to analysts' expectations of $63.63 million. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The business's revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. Research analysts expect that A10 Networks, Inc. will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, May 15th. A10 Networks's payout ratio is 35.82%.

About A10 Networks

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.