Summit Global Investments Purchases New Holdings in A10 Networks, Inc. $ATEN

Summit Global Investments acquired a new position in shares of A10 Networks, Inc. (NYSE:ATEN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 68,731 shares of the communications equipment provider’s stock, valued at approximately $1,247,000. Summit Global Investments owned approximately 0.10% of A10 Networks as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its stake in shares of A10 Networks by 1.8% during the third quarter. New York State Teachers Retirement System now owns 32,156 shares of the communications equipment provider’s stock valued at $584,000 after acquiring an additional 577 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of A10 Networks by 5.4% in the second quarter. Linden Thomas Advisory Services LLC now owns 13,863 shares of the communications equipment provider’s stock worth $268,000 after acquiring an additional 708 shares in the last quarter. Amalgamated Bank raised its position in shares of A10 Networks by 3.5% during the third quarter. Amalgamated Bank now owns 21,173 shares of the communications equipment provider’s stock worth $384,000 after purchasing an additional 710 shares during the period. Franklin Resources Inc. lifted its holdings in shares of A10 Networks by 0.7% during the 2nd quarter. Franklin Resources Inc. now owns 109,639 shares of the communications equipment provider’s stock valued at $2,122,000 after purchasing an additional 731 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of A10 Networks by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,438 shares of the communications equipment provider’s stock valued at $705,000 after purchasing an additional 737 shares during the period. 98.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on ATEN shares. Weiss Ratings restated a “hold (c+)” rating on shares of A10 Networks in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, A10 Networks currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

A10 Networks Price Performance

Shares of NYSE ATEN opened at $17.43 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.64 and a quick ratio of 3.49. The business has a 50-day moving average of $17.65 and a 200-day moving average of $17.75. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.63 and a beta of 1.23. A10 Networks, Inc. has a fifty-two week low of $13.81 and a fifty-two week high of $21.90.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Tuesday, November 4th. The communications equipment provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm had revenue of $74.68 million during the quarter, compared to analysts’ expectations of $70.70 million. A10 Networks had a return on equity of 25.87% and a net margin of 17.78%.The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. As a group, sell-side analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, November 17th. A10 Networks’s payout ratio is presently 35.29%.

A10 Networks Company Profile

A10 Networks, Inc (NYSE: ATEN), headquartered in San Jose, California, designs and sells networking and security solutions that accelerate application performance and protect data across on-premises, cloud and hybrid environments. Founded in 2004, the company’s offerings target enterprises, service providers and cloud operators seeking high availability, secure access and optimized traffic delivery for critical applications.

The company’s core portfolio includes application delivery controllers (ADCs) for load balancing and traffic management, advanced distributed denial-of-service (DDoS) protection appliances, SSL inspection solutions and carrier-grade NAT (CGNAT) platforms.