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

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

Separately, Craig Hallum raised their target price on A10 Networks from $15.00 to $16.00 and gave the company a buy rating in a research note on Wednesday.

A10 Networks Trading Up 17.7 %

ATEN stock opened at $15.38 on Wednesday. The stock has a 50-day moving average price of $13.55 and a 200-day moving average price of $12.94. A10 Networks has a 1-year low of $10.03 and a 1-year high of $15.99. The firm 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 quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $60.70 million during the quarter, compared to analyst estimates of $59.43 million. A10 Networks had a return on equity of 21.67% and a net margin of 15.88%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, analysts forecast that A10 Networks will post 0.66 earnings per share for the current year.

A10 Networks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.06 per share. 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 dividend payout ratio is currently 45.28%.

Insiders Place Their Bets

In other A10 Networks news, CEO Dhrupad Trivedi sold 60,606 shares of A10 Networks stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total transaction of $804,241.62. Following the transaction, the chief executive officer now owns 495,814 shares of the company’s stock, valued at approximately $6,579,451.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other A10 Networks news, CEO Dhrupad Trivedi sold 60,606 shares of A10 Networks stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total transaction of $804,241.62. Following the transaction, the chief executive officer now owns 495,814 shares of the company’s stock, valued at approximately $6,579,451.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian Becker sold 4,348 shares of A10 Networks 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 transaction, the chief financial officer now directly owns 51,299 shares in the company, valued at approximately $677,659.79. The disclosure for this sale can be found here. Insiders have sold a total of 121,146 shares of company stock valued at $1,598,166 in the last 90 days. 5.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On A10 Networks

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of A10 Networks by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 7,068,348 shares of the communications equipment provider’s stock worth $93,090,000 after purchasing an additional 102,501 shares during the period. First Trust Advisors LP raised its holdings in shares of A10 Networks by 83.9% in the 4th quarter. First Trust Advisors LP now owns 4,470,999 shares of the communications equipment provider’s stock worth $58,883,000 after purchasing an additional 2,040,007 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of A10 Networks by 37.4% in 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 purchasing an additional 676,509 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of A10 Networks by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,751,119 shares of the communications equipment provider’s stock worth $23,063,000 after purchasing an additional 81,908 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of A10 Networks by 18.7% in the 3rd quarter. Legal & General Group Plc now owns 1,708,642 shares of the communications equipment provider’s stock worth $25,681,000 after purchasing an additional 268,642 shares during the period. 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.