Hennion & Walsh Asset Management Inc. Purchases New Position in A10 Networks, Inc. (NYSE:ATEN)

Hennion & Walsh Asset Management Inc. acquired a new stake in A10 Networks, Inc. (NYSE:ATEN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,450 shares of the communications equipment provider’s stock, valued at approximately $247,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new position in shares of A10 Networks during the second quarter worth $29,000. GAMMA Investing LLC increased its holdings in A10 Networks by 43.5% in the 4th quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider’s stock worth $45,000 after purchasing an additional 744 shares in the last quarter. Copeland Capital Management LLC bought a new position in A10 Networks in the third quarter valued at about $43,000. Quarry LP acquired a new stake in shares of A10 Networks during the second quarter valued at about $47,000. Finally, Quantbot Technologies LP grew its holdings in shares of A10 Networks by 95.4% during the third quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock worth $82,000 after purchasing an additional 2,762 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

A10 Networks Price Performance

A10 Networks stock opened at $19.00 on Wednesday. The stock’s 50 day moving average is $17.96 and its 200 day moving average is $15.32. A10 Networks, Inc. has a one year low of $12.27 and a one year high of $19.37. The firm has a market cap of $1.40 billion, a P/E ratio of 28.35 and a beta of 1.14.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The firm had revenue of $66.72 million for the quarter, compared to the consensus estimate of $63.78 million. During the same quarter in the previous year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities analysts anticipate that A10 Networks, Inc. will post 0.6 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.26%. A10 Networks’s payout ratio is currently 35.82%.

Insider Transactions at A10 Networks

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following the transaction, the executive vice president now directly owns 23,799 shares in the company, valued at approximately $397,443.30. This represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ATEN. StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Craig Hallum downgraded shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Friday, November 8th. Finally, BWS Financial boosted their price objective on shares of A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

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.