Northern Trust Corp Buys 36,887 Shares of A10 Networks, Inc. (NYSE:ATEN)

Northern Trust Corp increased its holdings in shares of A10 Networks, Inc. (NYSE:ATEN) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 765,209 shares of the communications equipment provider’s stock after acquiring an additional 36,887 shares during the quarter. Northern Trust Corp’s holdings in A10 Networks were worth $14,080,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in A10 Networks by 3,389.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,059 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 2,000 shares during the period. KBC Group NV increased its position in A10 Networks by 79.1% during the fourth quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider’s stock worth $94,000 after acquiring an additional 2,251 shares during the period. Harvest Fund Management Co. Ltd bought a new position in A10 Networks during the fourth quarter worth about $161,000. Sciencast Management LP bought a new position in A10 Networks during the fourth quarter worth about $198,000. Finally, Polymer Capital Management US LLC bought a new position in A10 Networks during the fourth quarter worth about $210,000. 98.61% of the stock is owned by institutional investors.

A10 Networks Trading Down 0.7%

ATEN opened at $17.50 on Friday. The company’s 50 day moving average is $16.65 and its 200-day moving average is $17.86. A10 Networks, Inc. has a 1-year low of $12.27 and a 1-year high of $21.90. The company has a market cap of $1.26 billion, a P/E ratio of 26.12 and a beta of 1.37.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. The company had revenue of $66.14 million for the quarter, compared to the consensus estimate of $63.63 million. During the same period last year, the company posted $0.17 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current year.

A10 Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, May 15th. A10 Networks’s dividend payout ratio is currently 35.82%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of A10 Networks in a research note on Friday, May 2nd. StockNews.com downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Weiss Ratings downgraded shares of A10 Networks from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, May 10th. Raymond James assumed coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They set a “market perform” rating on the stock. Finally, Craig Hallum upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

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.