Invesco Ltd. Buys 678,207 Shares of A10 Networks, Inc. $ATEN

Key Points

• Invesco Ltd. increased its holdings in A10 Networks by 184.7% during the first quarter, now owning 1,045,406 shares valued at approximately $17.08 million.
• A10 Networks reported a 15.5% year-over-year increase in quarterly revenue, achieving $69.38 million and earnings per share of $0.21, surpassing analysts' estimates.
• The company has declared a quarterly dividend of $0.06 per share with an expected annualized yield of 1.4%, reflecting a dividend payout ratio of 35.29%.

Invesco Ltd. raised its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 184.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,045,406 shares of the communications equipment provider's stock after acquiring an additional 678,207 shares during the period. Invesco Ltd. owned approximately 1.45% of A10 Networks worth $17,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of A10 Networks by 1.8% during the 1st quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider's stock worth $743,000 after buying an additional 783 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in 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 worth $215,000 after purchasing an additional 963 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in 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 worth $574,000 after purchasing an additional 1,010 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in 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 worth $1,312,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Verity Asset Management Inc. increased its stake in shares of A10 Networks by 1.7% in the first quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock valued at $1,334,000 after buying an additional 1,378 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

A10 Networks Stock Performance

A10 Networks stock traded up $0.22 during mid-day trading on Wednesday, reaching $17.45. 446,286 shares of the company's stock were exchanged, compared to its average volume of 810,786. The business's fifty day simple moving average is $18.33 and its 200 day simple moving average is $17.96. The firm has a market capitalization of $1.26 billion, a PE ratio of 25.66 and a beta of 1.35. A10 Networks, Inc. has a one year low of $12.72 and a one year high of $21.90. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $69.38 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.18 earnings per share. On average, sell-side analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 annualized dividend and a yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is currently 35.29%.

Insider Transactions at A10 Networks

In related 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 is accessible through the SEC website. Corporate insiders own 1.15% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ATEN shares. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 target price for the company in a research note on Wednesday, August 6th. Mizuho started coverage on A10 Networks in a research note on Monday, July 14th. They set a "neutral" rating for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of A10 Networks in a research note on Saturday, August 16th. BWS Financial reiterated a "buy" rating and issued a $24.00 price target on shares of A10 Networks in a report on Friday, May 2nd. Finally, Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Friday, May 2nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

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.