FCG Investment Co Invests $1.15 Million in A10 Networks, Inc. (NYSE: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 acquired a new position in A10 Networks, Inc. (NYSE:ATEN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 70,357 shares of the communications equipment provider's stock, valued at approximately $1,150,000. FCG Investment Co owned approximately 0.10% of A10 Networks as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ATEN. Federated Hermes Inc. boosted its stake in shares of A10 Networks by 1.8% during the first quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider's stock valued at $743,000 after purchasing an additional 783 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of A10 Networks by 7.9% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider's stock valued at $215,000 after purchasing an additional 963 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in shares of A10 Networks by 3.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the communications equipment provider's stock valued at $574,000 after purchasing an additional 1,010 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of A10 Networks by 1.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 80,299 shares of the communications equipment provider's stock valued at $1,312,000 after purchasing an additional 1,295 shares during the period. Finally, Verity Asset Management Inc. lifted its stake in shares of A10 Networks by 1.7% in the 1st quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock valued at $1,334,000 after purchasing an additional 1,378 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

A10 Networks Price Performance

A10 Networks stock opened at $17.17 on Friday. The company has a market cap of $1.24 billion, a P/E ratio of 25.25 and a beta of 1.35. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. A10 Networks, Inc. has a one year low of $12.72 and a one year high of $21.90. The business has a fifty day moving average of $18.46 and a two-hundred day moving average of $18.12.

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 (EPS) for the quarter, topping the consensus estimate 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 return on equity of 25.46% and a net margin of 18.45%. The business's revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.06 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.24 annualized dividend and a yield of 1.4%. A10 Networks's payout ratio is 35.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ATEN shares. BTIG Research raised shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 target price for the company in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A10 Networks in a research note on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of A10 Networks in a research note on Friday, June 27th. They set a "buy" rating and a $22.00 target price for the company. Raymond James Financial initiated coverage on shares of A10 Networks in a research report on Wednesday, April 23rd. They set a "market perform" rating on the stock. Finally, Mizuho initiated coverage on shares of A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, A10 Networks currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Insider Activity

In related news, CFO Brian Becker sold 6,400 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 77,599 shares of the company's stock, valued at approximately $1,399,109.97. The trade was a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Robert Scott Weber sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value of $43,150.00. Following the transaction, the general counsel directly owned 61,007 shares in the company, valued at $1,052,980.82. This trade represents a 3.94% decrease in their ownership of the stock. 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.

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