MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in A10 Networks, Inc. $ATEN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in A10 Networks by 8.2% in the first quarter, now holding approximately 3.72% of the company, valued at $43.84 million.
• A10 Networks reported a 15.5% year-over-year increase in quarterly revenue, reaching $69.38 million, with earnings per share of $0.21, exceeding analysts' expectations.
• The company recently announced a quarterly dividend of $0.06 per share, which represents a 1.4% annual yield, and has a payout ratio of 35.29%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,682,442 shares of the communications equipment provider's stock after acquiring an additional 202,453 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 3.72% of A10 Networks worth $43,840,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vestcor Inc bought a new position in shares of A10 Networks in the 1st quarter worth $44,000. Sunbelt Securities Inc. purchased a new position in A10 Networks in the fourth quarter valued at about $50,000. Caitong International Asset Management Co. Ltd purchased a new position in A10 Networks in the first quarter valued at about $55,000. CWM LLC grew its stake in A10 Networks by 45.6% in the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock valued at $76,000 after purchasing an additional 1,454 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in A10 Networks in the first quarter valued at about $188,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

A10 Networks Stock Performance

Shares of ATEN stock opened at $17.63 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of 25.93 and a beta of 1.37. The business's 50 day moving average is $18.21 and its two-hundred day moving average is $17.76. 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, Inc. has a 12-month low of $12.72 and a 12-month high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last released its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS 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 analysts' expectations of $65.99 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The company's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. Analysts expect that A10 Networks, Inc. will post 0.69 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was 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%.

Analyst Ratings Changes

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

Insider Activity 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. 1.15% of the stock is owned by corporate insiders.

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.

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