A10 Networks (NYSE:ATEN) Price Target Raised to $24.00

A10 Networks (NYSE:ATEN) had its price target lifted by BWS Financial from $17.00 to $24.00 in a research report released on Wednesday, MarketBeat reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

Other equities analysts also recently issued research reports about the company. StockNews.com raised A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Craig Hallum cut shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Friday, November 8th.

A10 Networks Trading Down 0.7 %

ATEN opened at $16.44 on Wednesday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 24.54 and a beta of 1.11. A10 Networks has a 12 month low of $11.83 and a 12 month high of $16.92. The firm’s fifty day simple moving average is $14.54 and its 200 day simple moving average is $14.20.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $66.72 million for the quarter, compared to analyst estimates of $63.78 million. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. On average, equities research analysts predict that A10 Networks will post 0.65 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, November 18th. This represents a $0.24 annualized dividend and a yield of 1.46%. A10 Networks’s dividend payout ratio (DPR) is presently 35.82%.

Insiders Place Their Bets

In related news, EVP Karen S. Thomas sold 6,162 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the completion of the transaction, the executive vice president now directly owns 23,799 shares of the company’s stock, valued at approximately $397,443.30. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.81% of the company’s stock.

Institutional Trading of A10 Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of A10 Networks by 43,184.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,728,336 shares of the communications equipment provider’s stock valued at $23,937,000 after purchasing an additional 1,724,343 shares during the period. Millennium Management LLC bought a new stake in A10 Networks in the second quarter valued at approximately $9,562,000. Harbor Capital Advisors Inc. lifted its position in shares of A10 Networks by 175.0% in the third quarter. Harbor Capital Advisors Inc. now owns 795,628 shares of the communications equipment provider’s stock valued at $11,489,000 after buying an additional 506,332 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of A10 Networks by 48.2% in the second quarter. Assenagon Asset Management S.A. now owns 946,894 shares of the communications equipment provider’s stock valued at $13,114,000 after buying an additional 308,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of A10 Networks during the 2nd quarter worth approximately $4,058,000. 98.61% of the stock is owned by institutional investors.

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.