Royce & Associates LP Cuts Position in A10 Networks, Inc. (NYSE:ATEN)

Key Points

• Royce & Associates LP decreased its stake in A10 Networks by 22.9%, selling 210,700 shares, and now owns 708,368 shares valued at $11.58 million.
• A10 Networks recently announced a quarterly dividend of $0.06 per share, representing an annualized yield of 1.29% and a payout ratio of 35.82%.
• Analysts have mixed ratings on A10 Networks, with three giving a "hold" rating and three a "buy" rating, while the consensus price target stands at $22.00.

Royce & Associates LP cut its holdings in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 22.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 708,368 shares of the communications equipment provider's stock after selling 210,700 shares during the quarter. Royce & Associates LP owned about 0.96% of A10 Networks worth $11,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ATEN. Boston Trust Walden Corp purchased a new position in A10 Networks during the 1st quarter valued at about $26,894,000. Penserra Capital Management LLC boosted its stake in shares of A10 Networks by 29.9% in the first quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock valued at $41,490,000 after purchasing an additional 584,116 shares during the period. Marshall Wace LLP boosted its stake in shares of A10 Networks by 364.8% in the fourth quarter. Marshall Wace LLP now owns 683,711 shares of the communications equipment provider's stock valued at $12,580,000 after purchasing an additional 536,600 shares during the period. Barclays PLC boosted its stake in shares of A10 Networks by 350.4% in the fourth quarter. Barclays PLC now owns 685,720 shares of the communications equipment provider's stock valued at $12,618,000 after purchasing an additional 533,482 shares during the period. Finally, Norges Bank purchased a new position in shares of A10 Networks in the fourth quarter valued at approximately $7,202,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total value of $43,150.00. Following the completion of the transaction, the general counsel owned 61,007 shares of the company's stock, valued at approximately $1,052,980.82. The trade was a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ATEN. Craig Hallum raised A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 price target on the stock. Raymond James Financial began coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They issued a "market perform" rating on the stock. BWS Financial reissued a "buy" rating and set a $24.00 price objective on shares of A10 Networks in a report on Friday, May 2nd. Finally, Wall Street Zen cut shares of A10 Networks from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

A10 Networks Price Performance

ATEN stock traded up $0.30 on Tuesday, reaching $18.82. 143,807 shares of the company's stock were exchanged, compared to its average volume of 971,783. The company has a quick ratio of 3.87, a current ratio of 4.05 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1.36 billion, a PE ratio of 28.09, a P/E/G ratio of 4.40 and a beta of 1.39. A10 Networks, Inc. has a twelve month low of $12.27 and a twelve month high of $21.90. The stock has a fifty day moving average of $18.32 and a 200-day moving average of $18.20.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $66.14 million for the quarter, compared to analyst estimates of $63.63 million. A10 Networks had a return on equity of 24.23% and a net margin of 18.70%. A10 Networks's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. As a group, equities analysts predict that A10 Networks, Inc. will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, May 15th. A10 Networks's payout ratio is 35.82%.

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.