Victory Capital Management Inc. Has $6.30 Million Holdings in A10 Networks, Inc. (NYSE:ATEN)

Key Points

• Victory Capital Management Inc. significantly increased its stake in A10 Networks, acquiring 213,592 shares for a total of 385,332 shares, now valued at approximately $6.3 million.
• Several hedge funds have also made new investments in A10 Networks, with institutional investors controlling 98.61% of the company's stock.
• A10 Networks reported a revenue increase of 8.9% year-over-year and has announced a quarterly dividend of $0.06 per share, indicating a dividend yield of 1.29%.

Victory Capital Management Inc. lifted its stake in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 124.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 385,332 shares of the communications equipment provider's stock after purchasing an additional 213,592 shares during the period. Victory Capital Management Inc. owned about 0.52% of A10 Networks worth $6,296,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. CWM LLC lifted its position in shares of A10 Networks by 45.6% during the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock worth $76,000 after purchasing an additional 1,454 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of A10 Networks during the first quarter worth about $331,000. Linden Thomas Advisory Services LLC lifted its position in shares of A10 Networks by 7.9% during the first quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider's stock worth $215,000 after purchasing an additional 963 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in 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 worth $41,490,000 after acquiring an additional 584,116 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in A10 Networks by 3.0% in the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider's stock worth $6,806,000 after acquiring an additional 12,282 shares during the last quarter. Institutional investors own 98.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a report on Thursday, July 17th. Craig Hallum raised shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a report on Friday, May 2nd. Wall Street Zen cut shares of A10 Networks from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Raymond James Financial assumed coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They issued a "market perform" rating on the stock. Finally, Mizuho assumed coverage on shares of A10 Networks in a research note on Monday, July 14th. They issued a "neutral" rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, A10 Networks has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Insiders Place Their Bets

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.15% of the company's stock.

A10 Networks Price Performance

Shares of NYSE ATEN traded up $0.38 during mid-day trading on Tuesday, reaching $18.90. 78,135 shares of the company traded hands, compared to its average volume of 971,438. A10 Networks, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $21.90. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.05 and a quick ratio of 3.87. The firm has a market cap of $1.36 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 4.40 and a beta of 1.39. The stock has a fifty day simple moving average of $18.32 and a 200-day simple moving average of $18.20.

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

A10 Networks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Thursday, May 15th. A10 Networks's payout ratio is 35.82%.

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.