A10 Networks, Inc. (NYSE:ATEN) Sees Large Drop in Short Interest

A10 Networks, Inc. (NYSE:ATEN) was the recipient of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,470,000 shares, a drop of 18.3% from the January 31st total of 1,800,000 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily volume of 723,600 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp raised its holdings in shares of 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 worth $45,790,000 after acquiring an additional 62,015 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of A10 Networks by 11.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,989 shares of the communications equipment provider’s stock worth $45,632,000 after purchasing an additional 249,145 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of A10 Networks by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,820,512 shares of the communications equipment provider’s stock worth $33,498,000 after purchasing an additional 31,697 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of A10 Networks by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,677,206 shares of the communications equipment provider’s stock valued at $30,868,000 after purchasing an additional 14,764 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in A10 Networks by 3.2% during the fourth quarter. First Trust Advisors LP now owns 1,501,332 shares of the communications equipment provider’s stock worth $27,625,000 after buying an additional 45,868 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a research report on Tuesday. BWS Financial reissued a “buy” rating and issued a $24.00 price objective on shares of A10 Networks in a research note on Wednesday, February 5th. Finally, Craig Hallum raised their target price on 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 Price Performance

Shares of A10 Networks stock traded up $0.35 on Wednesday, hitting $20.48. 1,161,772 shares of the company’s stock traded hands, compared to its average volume of 703,331. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 30.57 and a beta of 1.14. The company has a fifty day moving average of $19.61 and a two-hundred day moving average of $16.83. A10 Networks has a one year low of $12.27 and a one year high of $21.90.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. Equities research analysts anticipate that A10 Networks will post 0.69 earnings per share for the current year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.06 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.17%. A10 Networks’s dividend payout ratio (DPR) is presently 35.82%.

About A10 Networks

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.