Gallacher Capital Management LLC Acquires New Position in A10 Networks, Inc. $ATEN

Key Points

• Gallacher Capital Management LLC acquired 15,285 shares of A10 Networks, valued at approximately $296,000, indicating a significant investment in the communications equipment provider.
• Multiple institutional investors have been actively increasing their stakes in A10 Networks, with over 98.61% of the stock now owned by such entities.
• A10 Networks received several upgrades from investment analysts, resulting in a consensus rating of "Moderate Buy" with a target price of $22.00.

Gallacher Capital Management LLC purchased a new position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,285 shares of the communications equipment provider's stock, valued at approximately $296,000.

Several other large investors also recently modified their holdings of ATEN. Bank of America Corp DE grew its position in shares of A10 Networks by 43.5% during the 4th quarter. Bank of America Corp DE now owns 181,956 shares of the communications equipment provider's stock worth $3,348,000 after buying an additional 55,134 shares during the period. Millennium Management LLC grew its position in shares of A10 Networks by 59.3% during the 4th quarter. Millennium Management LLC now owns 275,518 shares of the communications equipment provider's stock worth $5,070,000 after buying an additional 102,599 shares during the period. Man Group plc acquired a new stake in shares of A10 Networks during the 4th quarter worth approximately $1,181,000. ProShare Advisors LLC grew its position in shares of A10 Networks by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 21,421 shares of the communications equipment provider's stock worth $394,000 after buying an additional 6,573 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of A10 Networks during the 4th quarter worth approximately $448,000. Institutional investors and hedge funds own 98.61% of the company's stock.

Analysts Set New Price Targets

ATEN has been the subject of several recent analyst reports. BTIG Research raised shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c+)" rating on shares of A10 Networks in a research report on Thursday. Wall Street Zen raised shares of A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 price target for the company. Finally, Mizuho began coverage on shares of A10 Networks in a research report on Monday, July 14th. They issued a "neutral" rating for the company. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, A10 Networks presently has an average rating of "Moderate Buy" and an average target price of $22.00.

Insiders Place Their Bets

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the firm's 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 transaction, the chief financial officer directly owned 77,599 shares in the company, valued at approximately $1,399,109.97. This trade represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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, hitting $18.17. 2,272,290 shares of the company traded hands, compared to its average volume of 623,473. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07. The firm's 50-day simple moving average is $17.84 and its 200-day simple 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 market cap of $1.31 billion, a PE ratio of 26.72 and a beta of 1.37.

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, beating the consensus estimate of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The business had revenue of $69.38 million for the quarter, compared to analysts' expectations of $65.99 million. During the same period last year, the business earned $0.18 EPS. The business's revenue was up 15.5% on a year-over-year basis. Equities analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Announces Dividend

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

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.