A10 Networks (NYSE:ATEN) Stock Rating Lowered by StockNews.com

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

A number of other equities analysts have also weighed in on the company. Craig Hallum lifted their price objective on A10 Networks from $15.00 to $16.00 and gave the company a buy rating in a research note on Wednesday, May 1st. BWS Financial reiterated a buy rating and set a $17.00 price objective on shares of A10 Networks in a research note on Wednesday, May 1st.

A10 Networks Trading Down 1.8 %

Shares of NYSE ATEN opened at $13.61 on Monday. The stock has a market capitalization of $1.01 billion, a PE ratio of 22.30 and a beta of 1.13. The stock’s fifty day simple moving average is $14.56 and its two-hundred day simple moving average is $13.80. A10 Networks has a 12-month low of $10.03 and a 12-month high of $16.46.

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

A10 Networks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, May 14th. A10 Networks’s dividend payout ratio is currently 39.34%.

Insider Activity

In other news, Director Peter Y. Chung sold 3,296,047 shares of A10 Networks 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 sale, the director now owns 619,166 shares of the company’s stock, valued at approximately $9,535,156.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.82% of the company’s stock.

Institutional Trading of A10 Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of A10 Networks by 83.9% during the fourth quarter. First Trust Advisors LP now owns 4,470,999 shares of the communications equipment provider’s stock worth $58,883,000 after purchasing an additional 2,040,007 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in A10 Networks by 37.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after acquiring an additional 676,509 shares in the last quarter. Penserra Capital Management LLC boosted its stake in A10 Networks by 140.7% in the third quarter. Penserra Capital Management LLC now owns 517,002 shares of the communications equipment provider’s stock valued at $7,770,000 after acquiring an additional 302,203 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in A10 Networks by 93.6% in the fourth quarter. Russell Investments Group Ltd. now owns 561,155 shares of the communications equipment provider’s stock valued at $7,390,000 after acquiring an additional 271,303 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of A10 Networks by 18.7% during the third quarter. Legal & General Group Plc now owns 1,708,642 shares of the communications equipment provider’s stock worth $25,681,000 after buying an additional 268,642 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

A10 Networks Company Profile

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.