FCG Investment Co Acquires New Position in A10 Networks, Inc. $ATEN

Key Points

• FCG Investment Co has invested approximately $1.15 million in A10 Networks, acquiring 70,357 shares, increasing its ownership to about 0.10% of the company.
• A10 Networks reported a 15.5% year-over-year revenue increase, achieving $69.38 million in revenue and $0.21 earnings per share, surpassing analyst expectations.
• The company's board declared a quarterly dividend of $0.06 per share, representing an annualized yield of 1.4%, reflecting a payout ratio of 35.29%.

FCG Investment Co purchased a new position in A10 Networks, Inc. (NYSE:ATEN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 70,357 shares of the communications equipment provider's stock, valued at approximately $1,150,000. FCG Investment Co owned about 0.10% of A10 Networks at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vestcor Inc purchased a new position in A10 Networks in the first quarter worth $44,000. Sunbelt Securities Inc. purchased a new position in A10 Networks in the fourth quarter worth $50,000. Caitong International Asset Management Co. Ltd purchased a new position in A10 Networks in the first quarter worth $55,000. CWM LLC grew its holdings in A10 Networks by 45.6% in the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock worth $76,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of A10 Networks during the fourth quarter worth $197,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ATEN shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a research note on Saturday, August 16th. Wall Street Zen upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. BWS Financial restated a "buy" rating and set a $24.00 target price on shares of A10 Networks in a research report on Friday, May 2nd. BTIG Research upgraded shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 target price for the company in a research report on Wednesday, August 6th. Finally, Mizuho began coverage on shares of A10 Networks in a research report on Monday, July 14th. They set a "neutral" rating for the company. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, A10 Networks has an average rating of "Moderate Buy" and a consensus target price of $22.00.

A10 Networks Price Performance

Shares of A10 Networks stock traded up $0.4090 during trading hours on Friday, reaching $17.3990. The stock had a trading volume of 236,474 shares, compared to its average volume of 956,907. The stock's 50 day moving average is $18.38 and its 200 day moving average is $18.05. The firm has a market capitalization of $1.26 billion, a PE ratio of 25.59 and a beta of 1.35. A10 Networks, Inc. has a twelve month low of $12.72 and a twelve month high of $21.90. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The company's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Equities analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks's payout ratio is currently 35.29%.

Insider Transactions at A10 Networks

In other news, CFO Brian Becker sold 6,400 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were 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 $1,399,109.97. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Robert Scott Weber sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the sale, the general counsel directly owned 61,007 shares of the company's stock, valued at $1,052,980.82. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.

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.