A10 Networks (NYSE:ATEN) Price Target Raised to $24.00

A10 Networks (NYSE:ATEN) had its target price raised by BWS Financial from $17.00 to $24.00 in a research report released on Wednesday morning, MarketBeat.com reports. The firm currently has a buy rating on the communications equipment provider’s stock.

ATEN has been the topic of several other research reports. Craig Hallum cut shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Friday, November 8th. StockNews.com raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

A10 Networks Stock Down 0.8 %

Shares of NYSE ATEN opened at $16.44 on Wednesday. The business’s 50 day moving average is $14.48 and its two-hundred day moving average is $14.18. A10 Networks has a 52-week low of $11.83 and a 52-week high of $16.92. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 24.53 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The business had revenue of $66.72 million during the quarter, compared to analysts’ expectations of $63.78 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Analysts anticipate that A10 Networks will post 0.65 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, November 18th. A10 Networks’s dividend payout ratio (DPR) is presently 35.82%.

Insider Buying and Selling

In related news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following the sale, the executive vice president now directly owns 23,799 shares in the company, valued at $397,443.30. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.81% of the company’s stock.

Hedge Funds Weigh In On A10 Networks

Several hedge funds have recently made changes to their positions in ATEN. Guidance Capital Inc. boosted its position in shares of A10 Networks by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 36,355 shares of the communications equipment provider’s stock valued at $530,000 after purchasing an additional 718 shares during the period. Martingale Asset Management L P grew its position in shares of A10 Networks by 0.8% during the third quarter. Martingale Asset Management L P now owns 101,051 shares of the communications equipment provider’s stock worth $1,459,000 after acquiring an additional 770 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of A10 Networks by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,239 shares of the communications equipment provider’s stock valued at $377,000 after acquiring an additional 776 shares during the period. Rhumbline Advisers raised its position in A10 Networks by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 203,054 shares of the communications equipment provider’s stock valued at $2,812,000 after purchasing an additional 804 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in A10 Networks by 1.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 54,664 shares of the communications equipment provider’s stock worth $789,000 after purchasing an additional 814 shares during the period. 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.