A10 Networks (NYSE:ATEN) Earns Buy Rating from BWS Financial

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

Other research analysts have also issued research reports about the stock. Craig Hallum raised their target price on shares of A10 Networks from $15.00 to $16.00 and gave the company a buy rating in a research note on Wednesday, May 1st. StockNews.com lowered shares of A10 Networks from a buy rating to a hold rating in a research note on Monday, July 1st.

A10 Networks Stock Up 1.4 %

Shares of NYSE:ATEN opened at $13.86 on Tuesday. The firm has a market cap of $1.03 billion, a P/E ratio of 22.72 and a beta of 1.12. A10 Networks has a 12 month low of $10.03 and a 12 month high of $16.46. The company’s 50-day moving average price is $14.48 and its two-hundred day moving average price is $13.82.

A10 Networks (NYSE:ATEN) last issued its earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $60.70 million for the quarter, compared to analyst estimates of $59.43 million. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, equities analysts predict that A10 Networks will post 0.66 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.73%. A10 Networks’s dividend payout ratio is 39.34%.

Insider Activity at A10 Networks

In related news, Director Peter Y. Chung sold 3,296,047 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $15.40, for a total value of $50,759,123.80. Following the sale, the director now directly owns 619,166 shares in the company, valued at approximately $9,535,156.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.81% of the stock is currently owned by corporate insiders.

Institutional Trading of A10 Networks

Several hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its holdings in A10 Networks by 6.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock worth $176,000 after buying an additional 816 shares during the period. Texas Permanent School Fund Corp raised its holdings in A10 Networks by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 61,174 shares of the communications equipment provider’s stock worth $837,000 after buying an additional 973 shares during the period. ProShare Advisors LLC raised its holdings in A10 Networks by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,226 shares of the communications equipment provider’s stock worth $195,000 after buying an additional 984 shares during the period. Verity Asset Management Inc. raised its holdings in A10 Networks by 2.9% during the 1st quarter. Verity Asset Management Inc. now owns 73,214 shares of the communications equipment provider’s stock worth $1,002,000 after buying an additional 2,041 shares during the period. Finally, Quadrature Capital Ltd raised its holdings in A10 Networks by 12.9% during the 1st quarter. Quadrature Capital Ltd now owns 19,961 shares of the communications equipment provider’s stock worth $273,000 after buying an additional 2,286 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.