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. grew its position in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 184.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,045,406 shares of the communications equipment provider's stock after purchasing an additional 678,207 shares during the quarter. Invesco Ltd. owned approximately 1.45% of A10 Networks worth $17,082,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of A10 Networks by 112.3% in the 4th quarter. Wells Fargo & Company MN now owns 55,048 shares of the communications equipment provider's stock valued at $1,013,000 after purchasing an additional 29,123 shares during the period. Canada Pension Plan Investment Board lifted its stake in A10 Networks by 1,861.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 41,200 shares of the communications equipment provider's stock valued at $758,000 after buying an additional 39,100 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in A10 Networks by 3.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 99,862 shares of the communications equipment provider's stock valued at $1,837,000 after buying an additional 3,541 shares during the period. First Trust Advisors LP boosted its holdings in shares of A10 Networks by 3.2% during the 4th quarter. First Trust Advisors LP now owns 1,501,332 shares of the communications equipment provider's stock worth $27,625,000 after buying an additional 45,868 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of A10 Networks by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,820,512 shares of the communications equipment provider's stock worth $33,498,000 after buying an additional 31,697 shares during the period. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction, the chief financial officer directly owned 77,599 shares in the company, valued at approximately $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 can be accessed through this link. Also, General Counsel Robert Scott Weber sold 2,500 shares of the company'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 completion of the sale, the general counsel directly owned 61,007 shares of the company's stock, valued at $1,052,980.82. The trade was 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 Stock Up 2.4%

ATEN stock traded up $0.4060 during mid-day trading on Friday, reaching $17.3960. 568,457 shares of the company traded hands, compared to its average volume of 802,609. 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 moving average price is $18.38 and its 200 day moving average price is $18.00. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 25.58 and a beta of 1.35. A10 Networks, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The company 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 company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. As a group, equities research analysts predict that A10 Networks, Inc. will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on ATEN. BTIG Research upgraded shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 target price on the stock in a research report on Wednesday, August 6th. Craig Hallum raised shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research note on Friday, May 2nd. BWS Financial reissued a "buy" rating and set a $24.00 price objective on shares of A10 Networks in a research report on Friday, May 2nd. Mizuho initiated coverage on A10 Networks in a research note on Monday, July 14th. They issued a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 target price for the company. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

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.