A10 Networks (NYSE:ATEN) Raised to Buy at StockNews.com

StockNews.com upgraded shares of A10 Networks (NYSE:ATENFree Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

A number of other equities research analysts have also recently commented on the stock. Craig Hallum upped their target price on shares of A10 Networks from $15.00 to $16.00 and gave the company a buy rating in a report on Wednesday, May 1st. BWS Financial reissued a buy rating and set a $17.00 price target on shares of A10 Networks in a report on Wednesday, May 1st.

Get Our Latest Analysis on A10 Networks

A10 Networks Stock Performance

Shares of NYSE:ATEN opened at $14.11 on Friday. The company has a 50-day simple moving average of $14.42 and a 200-day simple moving average of $13.66. A10 Networks has a one year low of $10.03 and a one year high of $16.46. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.13 and a beta of 1.15.

A10 Networks (NYSE:ATENGet Free Report) last announced its earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The business had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $59.43 million. During the same period in the prior year, the company earned $0.09 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that A10 Networks will post 0.66 EPS for the current fiscal year.

A10 Networks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.24 annualized dividend and a yield of 1.70%. A10 Networks’s dividend payout ratio is currently 39.34%.

Insider Buying and Selling

In related news, Director Peter Y. Chung sold 3,296,047 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.40, for a total transaction of $50,759,123.80. Following the completion of the transaction, the director now directly owns 619,166 shares of the company’s stock, valued at $9,535,156.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in A10 Networks in the third quarter valued at about $181,000. Meeder Asset Management Inc. purchased a new position in A10 Networks in the fourth quarter valued at about $163,000. Harbor Capital Advisors Inc. increased its holdings in A10 Networks by 6.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock valued at $176,000 after buying an additional 816 shares in the last quarter. ProShare Advisors LLC increased its holdings in A10 Networks by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,226 shares of the communications equipment provider’s stock valued at $195,000 after buying an additional 984 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new position in A10 Networks in the third quarter valued at about $227,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

A10 Networks Company Profile

(Get Free Report)

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.

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