A10 Networks (NYSE:ATEN) Downgraded by Weiss Ratings to “Hold (C)”

Weiss Ratings downgraded shares of A10 Networks (NYSE:ATEN) from a buy (b-) rating to a hold (c) rating in a research report report published on Saturday morning,Weiss Ratings reports.

A number of other brokerages have also issued reports on ATEN. BWS Financial reissued a “buy” rating and issued a $24.00 target price on shares of A10 Networks in a research report on Friday, May 2nd. StockNews.com downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Raymond James began coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They issued a “market perform” rating for the company. Finally, Craig Hallum upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.00.

A10 Networks Stock Performance

ATEN stock opened at $17.86 on Friday. The firm has a market cap of $1.29 billion, a PE ratio of 26.66 and a beta of 1.37. The firm’s 50 day moving average price is $16.76 and its 200-day moving average price is $17.84. A10 Networks has a one year low of $12.27 and a one year high of $21.90.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $66.14 million for the quarter, compared to analyst estimates of $63.63 million. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Equities research analysts predict that A10 Networks will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.34%. A10 Networks’s payout ratio is currently 35.82%.

Hedge Funds Weigh In On A10 Networks

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC grew its stake in shares of A10 Networks by 234.1% during the third quarter. Barclays PLC now owns 152,238 shares of the communications equipment provider’s stock worth $2,198,000 after purchasing an additional 106,672 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of A10 Networks by 359.3% during the fourth quarter. SG Americas Securities LLC now owns 32,607 shares of the communications equipment provider’s stock worth $600,000 after purchasing an additional 25,508 shares in the last quarter. Sawgrass Asset Management LLC acquired a new position in shares of A10 Networks during the fourth quarter worth $213,000. Hennion & Walsh Asset Management Inc. purchased a new stake in A10 Networks in the fourth quarter valued at $247,000. Finally, JPMorgan Chase & Co. lifted its position in A10 Networks by 59.0% in the third quarter. JPMorgan Chase & Co. now owns 324,195 shares of the communications equipment provider’s stock valued at $4,681,000 after acquiring an additional 120,342 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

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.