Fisher Asset Management LLC Lowers Stock Holdings in A10 Networks, Inc. (NYSE:ATEN)

Fisher Asset Management LLC trimmed its position in shares of A10 Networks, Inc. (NYSE:ATEN) by 12.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,910 shares of the communications equipment provider’s stock after selling 9,918 shares during the quarter. Fisher Asset Management LLC owned 0.09% of A10 Networks worth $921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in shares of A10 Networks in the 4th quarter valued at about $163,000. Harbor Capital Advisors Inc. boosted its stake in shares of A10 Networks by 6.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock valued at $176,000 after buying an additional 816 shares during the period. Gladius Capital Management LP boosted its stake in shares of A10 Networks by 20.8% in the 4th quarter. Gladius Capital Management LP now owns 16,138 shares of the communications equipment provider’s stock valued at $213,000 after buying an additional 2,782 shares during the period. Teza Capital Management LLC purchased a new position in shares of A10 Networks in the 3rd quarter valued at about $227,000. Finally, Diversified Trust Co purchased a new position in shares of A10 Networks in the 4th quarter valued at about $228,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

A10 Networks Stock Up 1.2 %

ATEN stock opened at $13.84 on Friday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 22.69 and a beta of 1.15. A10 Networks, Inc. has a fifty-two week low of $10.03 and a fifty-two week high of $16.46. The business has a 50 day moving average price of $14.49 and a 200 day moving average price of $13.77.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $60.70 million for the quarter, compared to analyst estimates of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, sell-side analysts anticipate that A10 Networks, Inc. will post 0.66 EPS for the current year.

A10 Networks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Tuesday, May 14th. A10 Networks’s payout ratio is currently 39.34%.

Insider Activity

In other news, Director Peter Y. Chung sold 3,296,047 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $15.40, for a total value of $50,759,123.80. Following the transaction, the director now owns 619,166 shares of the company’s stock, valued at $9,535,156.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ATEN. Craig Hallum boosted their target price on A10 Networks from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, BWS Financial restated a “buy” rating and set a $17.00 target price on shares of A10 Networks in a research note on Wednesday, May 1st.

A10 Networks 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.