StockNews.com Upgrades A10 Networks (NYSE:ATEN) to Buy

StockNews.com upgraded shares of A10 Networks (NYSE:ATEN) from a hold rating to a buy rating in a report issued on Friday.

Separately, BWS Financial reissued a buy rating and set a $17.00 target price on shares of A10 Networks in a research note on Tuesday, July 9th.

A10 Networks Stock Down 0.8 %

Shares of ATEN stock opened at $14.20 on Friday. The stock has a 50-day simple moving average of $13.45 and a 200 day simple moving average of $13.87. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.28 and a beta of 1.11. A10 Networks has a fifty-two week low of $10.55 and a fifty-two week high of $16.46.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Tuesday, July 30th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. A10 Networks had a net margin of 17.51% and a return on equity of 21.29%. The firm had revenue of $60.10 million for the quarter, compared to analyst estimates of $64.30 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that A10 Networks will post 0.65 earnings per share for the current year.

A10 Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.69%. A10 Networks’s payout ratio is 39.34%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in A10 Networks in the 2nd quarter valued at $47,000. Algert Global LLC lifted its position in shares of A10 Networks by 161.6% during the 2nd quarter. Algert Global LLC now owns 409,222 shares of the communications equipment provider’s stock worth $5,668,000 after purchasing an additional 252,816 shares during the last quarter. Mackenzie Financial Corp boosted its stake in A10 Networks by 15.6% during the 2nd quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock valued at $638,000 after purchasing an additional 6,217 shares during the period. The Manufacturers Life Insurance Company grew its holdings in A10 Networks by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,239 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 776 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of A10 Networks in the second quarter valued at approximately $9,562,000. 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.