A10 Networks (NYSE:ATEN) Stock Rating Lowered by StockNews.com

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

Other analysts also recently issued reports about the company. BWS Financial restated a buy rating and issued a $17.00 price objective on shares of A10 Networks in a research report on Wednesday, May 1st. Craig Hallum upped their target price on shares of A10 Networks from $15.00 to $16.00 and gave the company a buy rating in a report on Wednesday, May 1st.

A10 Networks Price Performance

Shares of NYSE ATEN opened at $13.69 on Monday. The firm’s 50-day moving average is $14.56 and its two-hundred day moving average is $13.80. The company has a market capitalization of $1.02 billion, a PE ratio of 22.44 and a beta of 1.13. A10 Networks has a 12-month low of $10.03 and a 12-month high of $16.46.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share (EPS) 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 the consensus estimate of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. On average, analysts forecast that A10 Networks will post 0.66 EPS for the current fiscal year.

A10 Networks Announces Dividend

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

Insider Buying and Selling at A10 Networks

In other news, Director Peter Y. Chung sold 3,296,047 shares of the firm’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 sale, the director now 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 is available through the SEC website. 5.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On A10 Networks

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in A10 Networks by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 7,103,358 shares of the communications equipment provider’s stock valued at $97,245,000 after buying an additional 35,010 shares during the period. First Trust Advisors LP grew its holdings in A10 Networks by 83.9% in the fourth quarter. First Trust Advisors LP now owns 4,470,999 shares of the communications equipment provider’s stock valued at $58,883,000 after purchasing an additional 2,040,007 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in A10 Networks by 37.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after purchasing an additional 676,509 shares during the period. Dimensional Fund Advisors LP increased its position in A10 Networks by 4.9% during the fourth 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 last quarter. Finally, Legal & General Group Plc raised its stake in A10 Networks by 18.7% during the third 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. 98.61% of the stock is currently owned by institutional investors and hedge funds.

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.