A10 Networks, Inc. $ATEN Holdings Lifted by Punch & Associates Investment Management Inc.

Key Points

• Punch & Associates Investment Management Inc. increased its stake in A10 Networks by 2.0%, owning approximately $22.26 million in the company, making it the 14th largest holding in their portfolio.
• In the 4th quarter, several institutional investors, including Bank of America Corp DE and BNP Paribas Financial Markets, significantly raised their positions in A10 Networks, indicating strong institutional confidence in the stock.
• A10 Networks has received multiple upgrades from analysts, with BTIG Research setting a target price of $22.00 and a consensus rating of "Moderate Buy," reflecting positive sentiment in the market.

Punch & Associates Investment Management Inc. lifted its stake in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,362,331 shares of the communications equipment provider's stock after buying an additional 27,052 shares during the quarter. A10 Networks accounts for approximately 1.5% of Punch & Associates Investment Management Inc.'s holdings, making the stock its 14th largest holding. Punch & Associates Investment Management Inc. owned about 1.89% of A10 Networks worth $22,260,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ATEN. Vestcor Inc purchased a new position in A10 Networks in the first quarter valued at about $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 boosted its holdings 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 currently owned by hedge funds and other institutional investors.

Insider Transactions at A10 Networks

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total value of $115,392.00. Following the transaction, the chief financial officer owned 77,599 shares of the company's stock, valued at $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.15% of the stock is owned by corporate insiders.

A10 Networks Stock Performance

NYSE ATEN traded up $0.43 during trading hours on Thursday, reaching $17.85. The company's stock had a trading volume of 621,510 shares, compared to its average volume of 936,751. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. The business has a 50-day simple moving average of $18.09 and a 200 day simple moving average of $17.72. A10 Networks, Inc. has a 52 week low of $13.03 and a 52 week high of $21.90. The stock has a market cap of $1.29 billion, a PE ratio of 26.25 and a beta of 1.37.

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, topping analysts' consensus estimates of $0.20 by $0.01. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The firm had revenue of $69.38 million for the quarter, compared to analysts' expectations of $65.99 million. During the same quarter last year, the company posted $0.18 earnings per share. A10 Networks's revenue was up 15.5% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.3%. A10 Networks's dividend payout ratio (DPR) is currently 35.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on ATEN shares. Weiss Ratings reissued a "hold (c+)" rating on shares of A10 Networks in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on A10 Networks in a report on Friday, June 27th. They issued a "buy" rating and a $22.00 price objective for the company. Mizuho assumed coverage on A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating for the company. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a report on Wednesday, August 6th. Finally, Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Company 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.