A10 Networks (NYSE:ATEN) Sets New 1-Year High – Here’s Why

A10 Networks, Inc. (NYSE:ATEN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $19.63 and last traded at $19.53, with a volume of 177925 shares trading hands. The stock had previously closed at $19.11.

Wall Street Analyst Weigh In

ATEN has been the subject of a number of research analyst reports. Craig Hallum downgraded shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Friday, November 8th. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, BWS Financial boosted their price target on A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

A10 Networks Stock Performance

The stock has a fifty day moving average of $18.32 and a 200 day moving average of $15.58. The company has a market capitalization of $1.45 billion, a P/E ratio of 29.28 and a beta of 1.14.

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 during the quarter, compared to the consensus estimate of $63.78 million. During the same period in the previous year, the company posted $0.12 EPS. The firm’s revenue was up 15.5% on a year-over-year basis. Research analysts anticipate that A10 Networks, Inc. will post 0.6 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.06 per share. The ex-dividend date was Monday, November 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.22%. A10 Networks’s payout ratio is 35.82%.

Insider Buying and Selling

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following the completion of the sale, the executive vice president now directly owns 23,799 shares of the company’s stock, valued at $397,443.30. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.81% of the stock is currently owned by insiders.

Institutional Trading of A10 Networks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in A10 Networks by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,818,901 shares of the communications equipment provider’s stock worth $25,191,000 after purchasing an additional 28,150 shares during the last quarter. Sei Investments Co. grew its stake in shares of A10 Networks by 0.5% in the 2nd quarter. Sei Investments Co. now owns 210,111 shares of the communications equipment provider’s stock worth $2,910,000 after buying an additional 987 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of A10 Networks in the 2nd quarter worth about $2,647,000. Squarepoint Ops LLC purchased a new stake in shares of A10 Networks during the 2nd quarter valued at about $280,000. Finally, Millennium Management LLC bought a new position in shares of A10 Networks in the 2nd quarter valued at about $9,562,000. 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.