A10 Networks (NYSE:ATEN) Reaches New 52-Week High – Time to Buy?

Shares of A10 Networks, Inc. (NYSE:ATEN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.22 and last traded at $17.20, with a volume of 220271 shares trading hands. The stock had previously closed at $17.05.

Analyst Ratings Changes

A number of analysts have commented on ATEN shares. Craig Hallum cut shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Friday, November 8th. 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 research note on Wednesday, November 13th. Finally, StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.

A10 Networks Stock Performance

The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 25.45 and a beta of 1.11. The firm has a fifty day moving average price of $15.18 and a 200-day moving average price of $14.29.

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

A10 Networks Dividend Announcement

The company also recently disclosed 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 is Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.37%. A10 Networks’s dividend payout ratio is currently 35.82%.

Insider Buying and Selling

In related news, EVP Karen S. Thomas sold 6,162 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following the sale, the executive vice president now owns 23,799 shares in the company, valued at $397,443.30. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its position in A10 Networks by 15.6% during the second quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock valued at $638,000 after acquiring an additional 6,217 shares during the last quarter. SG Americas Securities LLC bought a new stake in A10 Networks during the second quarter valued at $1,201,000. Point72 DIFC Ltd bought a new stake in A10 Networks during the second quarter valued at $516,000. Quest Partners LLC boosted its position in A10 Networks by 262.1% during the third quarter. Quest Partners LLC now owns 56,245 shares of the communications equipment provider’s stock valued at $812,000 after acquiring an additional 40,712 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in A10 Networks by 11.8% during the third quarter. Principal Financial Group Inc. now owns 389,088 shares of the communications equipment provider’s stock valued at $5,618,000 after acquiring an additional 41,141 shares during the last quarter. 98.61% of the stock is owned by institutional investors.

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.