A10 Networks (NYSE:ATEN) Shares Gap Down – Here’s Why

A10 Networks, Inc. (NYSE:ATEN) gapped down before the market opened on Thursday . The stock had previously closed at $19.55, but opened at $17.49. A10 Networks shares last traded at $16.29, with a volume of 2,446,511 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday. Craig Hallum increased their target price on shares of A10 Networks from $16.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, February 5th. Finally, BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of A10 Networks in a report on Wednesday, February 5th.

A10 Networks Price Performance

The firm’s 50 day moving average price is $19.69 and its two-hundred day moving average price is $17.09. The stock has a market cap of $1.25 billion, a PE ratio of 25.13 and a beta of 1.17.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. Analysts anticipate that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.24 annualized dividend and a yield of 1.43%. A10 Networks’s payout ratio is presently 35.82%.

Institutional Investors Weigh In On A10 Networks

Several hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of A10 Networks by 2.0% in the 3rd quarter. State Street Corp now owns 3,171,077 shares of the communications equipment provider’s stock worth $45,790,000 after acquiring an additional 62,015 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in A10 Networks by 11.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,989 shares of the communications equipment provider’s stock valued at $45,632,000 after purchasing an additional 249,145 shares during the period. Dimensional Fund Advisors LP increased its position in A10 Networks by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,820,512 shares of the communications equipment provider’s stock valued at $33,498,000 after purchasing an additional 31,697 shares during the period. Geode Capital Management LLC increased its position in A10 Networks by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,677,206 shares of the communications equipment provider’s stock valued at $30,868,000 after purchasing an additional 14,764 shares during the period. Finally, First Trust Advisors LP increased its position in A10 Networks by 3.2% during the 4th quarter. First Trust Advisors LP now owns 1,501,332 shares of the communications equipment provider’s stock valued at $27,625,000 after purchasing an additional 45,868 shares during the period. 98.61% of the stock is currently owned by institutional investors.

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.