Royce & Associates LP Sells 210,700 Shares of 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 decreased its holdings in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 22.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 708,368 shares of the communications equipment provider's stock after selling 210,700 shares during the period. Royce & Associates LP owned approximately 0.96% of A10 Networks worth $11,575,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Linden Thomas Advisory Services LLC boosted its stake in shares of 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 valued at $215,000 after purchasing an additional 963 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of 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 valued at $574,000 after purchasing an additional 1,010 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of 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 valued at $1,312,000 after purchasing an additional 1,295 shares in the last quarter. Verity Asset Management Inc. boosted its stake in shares of A10 Networks by 1.7% in the 1st quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock valued at $1,334,000 after purchasing an additional 1,378 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of A10 Networks by 45.6% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 98.61% of the company's stock.

A10 Networks Trading Down 0.9%

Shares of NYSE:ATEN traded down $0.16 on Friday, hitting $18.57. The company had a trading volume of 420,275 shares, compared to its average volume of 897,567. The firm's 50-day simple moving average is $18.30 and its two-hundred day simple moving average is $18.21. A10 Networks, Inc. has a 1 year low of $12.27 and a 1 year high of $21.90. 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 capitalization of $1.34 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 4.40 and a beta of 1.39.

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

A10 Networks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.29%. A10 Networks's dividend payout ratio (DPR) is currently 35.82%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ATEN. BWS Financial reaffirmed a "buy" rating and issued a $24.00 price objective on shares of A10 Networks in a research note on Friday, May 2nd. Raymond James Financial started coverage on shares of A10 Networks in a research report on Wednesday, April 23rd. They set a "market perform" rating for the company. Wall Street Zen cut shares of A10 Networks from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a research report on Thursday, July 17th. Finally, 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 report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Insider Transactions at A10 Networks

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value of $43,150.00. Following the sale, the general counsel owned 61,007 shares in the company, valued at $1,052,980.82. This represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.15% of the stock is currently owned by company 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.