A10 Networks (NYSE:ATEN) Price Target Raised to $16.00 at Craig Hallum

A10 Networks (NYSE:ATEN) had its target price increased by Craig Hallum from $15.00 to $16.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

Separately, BWS Financial raised their price objective on A10 Networks from $15.00 to $17.00 and gave the stock a buy rating in a research report on Wednesday, February 7th.

A10 Networks Trading Up 17.7 %

Shares of ATEN stock opened at $15.38 on Wednesday. The stock has a 50 day moving average of $13.55 and a two-hundred day moving average of $12.94. A10 Networks has a 12 month low of $10.03 and a 12 month high of $15.99. The company has a market capitalization of $1.15 billion, a P/E ratio of 29.01 and a beta of 1.10.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. A10 Networks had a return on equity of 21.67% and a net margin of 15.88%. The company had revenue of $60.70 million during the quarter, compared to the consensus estimate of $59.43 million. During the same quarter last year, the company earned $0.09 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that A10 Networks will post 0.66 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.56%. A10 Networks’s dividend payout ratio (DPR) is presently 45.28%.

Insider Buying and Selling

In related news, CEO Dhrupad Trivedi sold 60,606 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total transaction of $804,241.62. Following the completion of the transaction, the chief executive officer now owns 495,814 shares in the company, valued at approximately $6,579,451.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Dhrupad Trivedi sold 60,606 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total transaction of $804,241.62. Following the completion of the transaction, the chief executive officer now owns 495,814 shares in the company, valued at approximately $6,579,451.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian Becker sold 4,348 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $13.21, for a total value of $57,437.08. Following the sale, the chief financial officer now directly owns 51,299 shares of the company’s stock, valued at $677,659.79. The disclosure for this sale can be found here. Insiders sold 121,146 shares of company stock worth $1,598,166 in the last 90 days. 5.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On A10 Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of ATEN. SG Americas Securities LLC increased its holdings in A10 Networks by 221.5% during the 3rd quarter. SG Americas Securities LLC now owns 54,701 shares of the communications equipment provider’s stock valued at $822,000 after purchasing an additional 37,689 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of A10 Networks by 2.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 43,373 shares of the communications equipment provider’s stock valued at $651,000 after buying an additional 1,031 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of A10 Networks in the 3rd quarter valued at $376,000. Bank of New York Mellon Corp increased its stake in shares of A10 Networks by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,626,418 shares of the communications equipment provider’s stock valued at $24,445,000 after buying an additional 5,707 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of A10 Networks by 65.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,595 shares of the communications equipment provider’s stock valued at $234,000 after buying an additional 6,161 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

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.