Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in A10 Networks, Inc. $ATEN

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of A10 Networks, Inc. (NYSE:ATEN) by 21.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 257,610 shares of the communications equipment provider’s stock after buying an additional 45,674 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in A10 Networks were worth $4,985,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ATEN. Vestcor Inc bought a new stake in A10 Networks during the first quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of A10 Networks in the 1st quarter worth approximately $55,000. CWM LLC increased its position in shares of A10 Networks by 45.6% during the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock valued at $76,000 after purchasing an additional 1,454 shares during the last quarter. DRW Securities LLC bought a new position in shares of A10 Networks during the 1st quarter valued at approximately $188,000. Finally, Corton Capital Inc. purchased a new stake in A10 Networks during the 2nd quarter valued at $194,000. Institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ATEN shares. Wall Street Zen lowered shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. BTIG Research raised shares of A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of A10 Networks in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.00.

A10 Networks Trading Up 0.0%

NYSE ATEN opened at $17.10 on Friday. The stock has a market cap of $1.23 billion, a PE ratio of 25.14 and a beta of 1.30. A10 Networks, Inc. has a 12 month low of $13.81 and a 12 month high of $21.90. The company’s 50-day moving average price is $17.84 and its 200-day moving average price is $17.89. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07.

A10 Networks (NYSE:ATEN) last issued its earnings results on Tuesday, November 4th. The communications equipment provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $74.68 million for the quarter, compared to the consensus estimate of $70.70 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Equities research analysts forecast that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 17th. A10 Networks’s dividend payout ratio is currently 35.29%.

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.