A10 Networks (NYSE:ATEN) Sets New 1-Year High – Here’s What Happened

A10 Networks, Inc. (NYSE:ATEN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.93 and last traded at $16.89, with a volume of 350131 shares traded. The stock had previously closed at $16.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ATEN shares. BWS Financial increased their price target on shares of A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. StockNews.com raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Craig Hallum cut A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Friday, November 8th.

A10 Networks Stock Up 2.8 %

The business has a 50 day moving average of $14.93 and a 200 day moving average of $14.25. The company has a market capitalization of $1.25 billion, a P/E ratio of 24.60 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $66.72 million during the quarter, compared to analyst estimates of $63.78 million. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. A10 Networks’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 earnings per share. On average, research analysts anticipate that A10 Networks, Inc. will post 0.6 EPS for the current year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.42%. A10 Networks’s payout ratio is 35.82%.

Insider Activity at A10 Networks

In other news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the sale, the executive vice president now owns 23,799 shares in the company, valued at $397,443.30. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.82% of the stock is owned by insiders.

Institutional Investors Weigh In On A10 Networks

A number of large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new position in shares of A10 Networks during the 2nd quarter worth $29,000. Copeland Capital Management LLC acquired a new stake in A10 Networks during the 3rd quarter worth $43,000. Quarry LP purchased a new stake in A10 Networks in the second quarter valued at $47,000. Quantbot Technologies LP boosted its stake in A10 Networks by 95.4% in the third quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock valued at $82,000 after acquiring an additional 2,762 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of A10 Networks during the second quarter worth about $105,000. Hedge funds and other 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.