Sawgrass Asset Management LLC Invests $213,000 in A10 Networks, Inc. (NYSE:ATEN)

Sawgrass Asset Management LLC acquired a new position in A10 Networks, Inc. (NYSE:ATEN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,588 shares of the communications equipment provider’s stock, valued at approximately $213,000.

Other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in A10 Networks by 2.0% in the 3rd quarter. State Street Corp now owns 3,171,077 shares of the communications equipment provider’s stock valued at $45,790,000 after buying an additional 62,015 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of A10 Networks by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,662,442 shares of the communications equipment provider’s stock valued at $24,010,000 after acquiring an additional 89,175 shares in the last quarter. Royce & Associates LP increased its position in shares of A10 Networks by 12.7% in the third quarter. Royce & Associates LP now owns 842,656 shares of the communications equipment provider’s stock valued at $12,168,000 after acquiring an additional 94,710 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of A10 Networks by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 816,165 shares of the communications equipment provider’s stock valued at $15,017,000 after acquiring an additional 20,537 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in A10 Networks by 25.0% during the third quarter. Impax Asset Management Group plc now owns 687,500 shares of the communications equipment provider’s stock worth $9,928,000 after acquiring an additional 137,500 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

A10 Networks Stock Performance

A10 Networks stock opened at $21.70 on Friday. The stock has a 50-day simple moving average of $18.98 and a 200 day simple moving average of $16.03. The stock has a market capitalization of $1.60 billion, a P/E ratio of 32.39 and a beta of 1.14. A10 Networks, Inc. has a 52 week low of $12.27 and a 52 week high of $21.78.

A10 Networks (NYSE:ATEN) last issued its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. Research analysts forecast that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, February 14th. A10 Networks’s payout ratio is presently 35.82%.

Wall Street Analysts Forecast Growth

ATEN has been the subject of a number of analyst reports. BWS Financial restated a “buy” rating and issued a $24.00 price target on shares of A10 Networks in a research note on Wednesday, February 5th. StockNews.com cut shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Craig Hallum upped their price target on shares of A10 Networks from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, February 5th.

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.