A10 Networks (NYSE:ATEN) Reaches New 12-Month High – Here’s Why

A10 Networks, Inc. (NYSE:ATEN) reached a new 52-week high on Tuesday . The company traded as high as $16.93 and last traded at $16.89, with a volume of 350131 shares changing hands. The stock had previously closed at $16.49.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Craig Hallum downgraded A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Friday, November 8th. BWS Financial lifted their price objective on A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.

A10 Networks Price Performance

The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 25.56 and a beta of 1.11. The firm’s fifty day moving average is $15.06 and its 200-day moving average is $14.28.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The company had revenue of $66.72 million for the quarter, compared to the consensus estimate of $63.78 million. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts anticipate that A10 Networks, Inc. will post 0.6 EPS for the current year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, November 18th. A10 Networks’s payout ratio is 35.82%.

Insider Transactions at A10 Networks

In other news, EVP Karen S. Thomas sold 6,162 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following the transaction, the executive vice president now owns 23,799 shares of the company’s stock, valued at $397,443.30. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ATEN. Canada Pension Plan Investment Board bought a new stake in shares of A10 Networks during the second quarter valued at approximately $29,000. Copeland Capital Management LLC bought a new stake in A10 Networks during the 3rd quarter valued at $43,000. Quarry LP bought a new stake in A10 Networks during the 2nd quarter valued at $47,000. Quantbot Technologies LP raised its holdings in A10 Networks by 95.4% during the third quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock worth $82,000 after buying an additional 2,762 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of A10 Networks in the second quarter valued at $105,000. 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.