A10 Networks’ (ATEN) Buy Rating Reaffirmed at BWS Financial

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

Separately, Craig Hallum upped 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.

A10 Networks Stock Up 17.7 %

A10 Networks stock opened at $15.38 on Wednesday. The company’s 50-day moving average price is $13.55 and its 200-day moving average price is $12.94. A10 Networks has a twelve month low of $10.03 and a twelve month high of $15.99. The company has a market cap of $1.15 billion, a PE ratio of 29.01 and a beta of 1.10.

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

A10 Networks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a $0.06 dividend. 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 payout ratio is presently 45.28%.

Insider Transactions at A10 Networks

In other news, CFO Brian Becker sold 4,348 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 51,299 shares of the company’s stock, valued at approximately $677,659.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Dhrupad Trivedi sold 8,679 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $13.06, for a total value of $113,347.74. Following the completion of the sale, the chief executive officer now owns 556,420 shares of the company’s stock, valued at approximately $7,266,845.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian Becker sold 4,348 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $13.21, for a total transaction of $57,437.08. Following the completion of the sale, the chief financial officer now directly owns 51,299 shares of the company’s stock, valued at approximately $677,659.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,146 shares of company stock valued at $1,598,166. Company insiders own 5.82% of the company’s stock.

Institutional Investors Weigh In On A10 Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in A10 Networks during the fourth quarter valued at approximately $163,000. Harbor Capital Advisors Inc. lifted its position in A10 Networks by 6.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 816 shares during the last quarter. Quantbot Technologies LP purchased a new stake in A10 Networks during the third quarter valued at approximately $181,000. Gladius Capital Management LP lifted its position in A10 Networks by 20.8% during the fourth quarter. Gladius Capital Management LP now owns 16,138 shares of the communications equipment provider’s stock valued at $213,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new stake in A10 Networks during the third quarter valued at approximately $227,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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.