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

A10 Networks (NYSE:ATEN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

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

A10 Networks Stock Performance

Shares of NYSE:ATEN traded up $0.16 during midday trading on Friday, reaching $14.31. 283,340 shares of the company’s stock were exchanged, compared to its average volume of 757,006. The company’s 50 day simple moving average is $13.45 and its two-hundred day simple moving average is $13.87. A10 Networks has a 12 month low of $10.55 and a 12 month high of $16.46. The firm has a market capitalization of $1.07 billion, a PE ratio of 23.46 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Tuesday, July 30th. The communications equipment provider reported $0.18 earnings per share 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 analysts’ expectations of $64.30 million. During the same period in the prior year, the firm earned $0.14 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, research analysts anticipate that A10 Networks will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATEN. First Trust Advisors LP increased its position in 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 acquiring an additional 2,040,007 shares during the period. Vanguard Group Inc. increased its holdings in shares of A10 Networks by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 7,068,348 shares of the communications equipment provider’s stock worth $93,090,000 after purchasing an additional 102,501 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of A10 Networks in the fourth quarter valued at approximately $233,000. Bridge City Capital LLC boosted its stake in shares of A10 Networks by 2.3% in the first quarter. Bridge City Capital LLC now owns 347,160 shares of the communications equipment provider’s stock valued at $4,753,000 after buying an additional 7,873 shares during the period. Finally, Guidance Capital Inc. grew its position in A10 Networks by 70.2% during the first quarter. Guidance Capital Inc. now owns 32,294 shares of the communications equipment provider’s stock worth $418,000 after buying an additional 13,320 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.