A10 Networks (NYSE:ATEN) Cut to Hold at StockNews.com

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

Several other analysts have also commented on the stock. BWS Financial reaffirmed a buy rating and set a $17.00 price target on shares of A10 Networks in a research report on Wednesday, May 1st. Craig Hallum lifted their target price on A10 Networks from $15.00 to $16.00 and gave the company a buy rating in a research report on Wednesday, May 1st.

A10 Networks Stock Down 0.1 %

Shares of NYSE:ATEN opened at $13.69 on Monday. A10 Networks has a 52-week low of $10.03 and a 52-week high of $16.46. The business has a fifty day moving average of $14.56 and a two-hundred day moving average of $13.80. The stock has a market cap of $1.02 billion, a P/E ratio of 22.44 and a beta of 1.13.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The firm had revenue of $60.70 million during the quarter, compared to analyst estimates of $59.43 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. A10 Networks’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that A10 Networks will post 0.66 earnings per share for the current year.

A10 Networks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.75%. A10 Networks’s dividend payout ratio is currently 39.34%.

Insider Activity at A10 Networks

In other A10 Networks news, Director Peter Y. Chung sold 3,296,047 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $15.40, for a total transaction of $50,759,123.80. Following the transaction, the director now directly owns 619,166 shares in the company, valued at $9,535,156.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.82% of the stock is owned by insiders.

Hedge Funds Weigh In On A10 Networks

Several hedge funds have recently bought and sold shares of ATEN. Vanguard Group Inc. increased its stake in A10 Networks by 2.7% during the third quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock worth $104,697,000 after purchasing an additional 185,362 shares during the period. Meritage Portfolio Management grew its holdings in shares of A10 Networks by 30.3% in the fourth quarter. Meritage Portfolio Management now owns 32,220 shares of the communications equipment provider’s stock valued at $424,000 after purchasing an additional 7,484 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in A10 Networks by 37.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock worth $32,753,000 after buying an additional 676,509 shares during the period. Verity Asset Management Inc. lifted its holdings in A10 Networks by 1.7% during the 3rd quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock worth $1,378,000 after buying an additional 1,515 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in A10 Networks by 93.6% in the 4th quarter. Russell Investments Group Ltd. now owns 561,155 shares of the communications equipment provider’s stock valued at $7,390,000 after buying an additional 271,303 shares during the period. Institutional investors and hedge funds 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.