A10 Networks (NYSE:ATEN) Earns Buy Rating from BWS Financial

BWS Financial restated their buy rating on shares of A10 Networks (NYSE:ATEN) in a report published on Tuesday, Benzinga reports. They currently have a $17.00 target price on the communications equipment provider’s stock.

Several other equities research analysts also recently weighed in on ATEN. StockNews.com downgraded shares of A10 Networks from a buy rating to a hold rating in a research report on Monday, July 1st. Craig Hallum lifted their price target 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.

A10 Networks Price Performance

A10 Networks stock opened at $13.86 on Tuesday. A10 Networks has a 12-month low of $10.03 and a 12-month high of $16.46. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 22.72 and a beta of 1.12. The firm’s fifty day moving average price is $14.48 and its 200 day moving average price is $13.82.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $60.70 million for the quarter, compared to the consensus estimate of $59.43 million. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. Analysts forecast that A10 Networks will post 0.66 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, May 14th. A10 Networks’s dividend payout ratio (DPR) is presently 39.34%.

Insider Activity

In other news, Director Peter Y. Chung sold 3,296,047 shares of A10 Networks stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.40, for a total value 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 approximately $9,535,156.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ATEN. First Trust Advisors LP boosted its stake in A10 Networks by 83.9% during the 4th quarter. First Trust Advisors LP now owns 4,470,999 shares of the communications equipment provider’s stock valued at $58,883,000 after purchasing an additional 2,040,007 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of A10 Networks by 37.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock worth $32,753,000 after buying an additional 676,509 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of A10 Networks by 93.6% during the 4th quarter. Russell Investments Group Ltd. now owns 561,155 shares of the communications equipment provider’s stock worth $7,390,000 after buying an additional 271,303 shares in the last quarter. Legal & General Group Plc raised its position in shares of A10 Networks by 18.7% during the 3rd quarter. Legal & General Group Plc now owns 1,708,642 shares of the communications equipment provider’s stock worth $25,681,000 after buying an additional 268,642 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of A10 Networks by 69.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 638,894 shares of the communications equipment provider’s stock worth $8,746,000 after buying an additional 261,198 shares in the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

A10 Networks Company 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.