A10 Networks (NYSE:ATEN) Downgraded by StockNews.com to Hold

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

A number of other equities research analysts also recently weighed in on ATEN. BWS Financial restated a buy rating and issued a $17.00 price target on shares of A10 Networks in a research note on Wednesday, May 1st. Craig Hallum lifted their target price on shares of A10 Networks from $15.00 to $16.00 and gave the stock a buy rating in a research report on Wednesday, May 1st.

A10 Networks Stock Performance

ATEN opened at $13.70 on Monday. The company’s 50 day moving average is $14.56 and its 200-day moving average is $13.80. A10 Networks has a 1-year low of $10.03 and a 1-year high of $16.46. The company has a market cap of $1.02 billion, a P/E ratio of 22.46 and a beta of 1.12.

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

A10 Networks Announces Dividend

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

Insider Buying and Selling

In other A10 Networks news, Director Peter Y. Chung sold 3,296,047 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $15.40, for a total transaction of $50,759,123.80. Following the completion of the transaction, the director now owns 619,166 shares in the company, valued at approximately $9,535,156.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of A10 Networks by 38.3% in the 3rd quarter. Invesco Ltd. now owns 570,142 shares of the communications equipment provider’s stock valued at $8,569,000 after acquiring an additional 158,022 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of A10 Networks by 42.7% in the 3rd quarter. Federated Hermes Inc. now owns 62,008 shares of the communications equipment provider’s stock valued at $932,000 after acquiring an additional 18,546 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of A10 Networks by 38.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 158,383 shares of the communications equipment provider’s stock valued at $2,380,000 after acquiring an additional 43,781 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of A10 Networks in the 3rd quarter valued at $227,000. Finally, Legal & General Group Plc increased its stake 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 valued at $25,681,000 after acquiring an additional 268,642 shares in the last quarter. Institutional investors 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.