A10 Networks (NYSE:ATEN) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of A10 Networks (NYSE:ATEN) from a hold rating to a buy rating in a report issued on Friday.

Separately, BWS Financial reiterated a buy rating and issued a $17.00 price objective on shares of A10 Networks in a report on Tuesday, July 9th.

A10 Networks Price Performance

ATEN opened at $14.20 on Friday. The company’s 50 day simple moving average is $13.45 and its 200-day simple moving average is $13.87. A10 Networks has a one year low of $10.55 and a one year high of $16.46. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.28 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Tuesday, July 30th. The communications equipment provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. A10 Networks had a return on equity of 21.29% and a net margin of 17.51%. The firm had revenue of $60.10 million during the quarter, compared to analyst estimates of $64.30 million. During the same period last year, the company earned $0.14 earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. As a group, analysts anticipate that A10 Networks will post 0.65 EPS for the current year.

A10 Networks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, August 15th. A10 Networks’s payout ratio is presently 39.34%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in A10 Networks in the 2nd quarter valued at approximately $29,000. Quarry LP acquired a new position in A10 Networks during the second quarter worth $47,000. nVerses Capital LLC bought a new position in A10 Networks in the second quarter valued at $105,000. Meeder Asset Management Inc. acquired a new stake in A10 Networks in the 2nd quarter valued at $137,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of A10 Networks during the 2nd quarter worth about $148,000. 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.