Weiss Ratings Reiterates Hold (C+) Rating for A10 Networks (NYSE:ATEN)

Weiss Ratings reaffirmed their hold (c+) rating on shares of A10 Networks (NYSE:ATEN – Free Report) in a research note issued to investors on Saturday morning,Weiss Ratings reports.

Several other brokerages have also weighed in on ATEN. Raymond James Financial began coverage on A10 Networks in a report on Wednesday, April 23rd. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on A10 Networks in a report on Friday, June 27th. They issued a “buy” rating and a $22.00 price objective for the company. Craig Hallum raised A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, May 2nd. BWS Financial reissued a “buy” rating and issued a $24.00 price objective on shares of A10 Networks in a report on Friday, May 2nd. Finally, BTIG Research raised A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, August 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, A10 Networks currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Check Out Our Latest Stock Report on ATEN

A10 Networks Stock Down 0.0%

Shares of NYSE ATEN opened at $17.18 on Friday. A10 Networks has a 1 year low of $12.72 and a 1 year high of $21.90. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 25.26 and a beta of 1.35. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. The stock’s 50-day simple moving average is $18.44 and its 200-day simple moving average is $18.09.

A10 Networks (NYSE:ATEN – Get Free Report) last announced its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%. The business had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that A10 Networks will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. A10 Networks’s dividend payout ratio is 35.29%.

Insider Activity at A10 Networks

In other news, General Counsel Robert Scott Weber sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the transaction, the general counsel directly owned 61,007 shares of the company’s stock, valued at approximately $1,052,980.82. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Becker sold 6,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total value of $115,392.00. Following the transaction, the chief financial officer directly owned 77,599 shares of the company’s stock, valued at $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in A10 Networks by 0.5% in the first quarter. Vanguard Group Inc. now owns 7,394,304 shares of the communications equipment provider’s stock worth $120,823,000 after purchasing an additional 34,634 shares during the period. Penserra Capital Management LLC lifted its position in A10 Networks by 56.2% in the second quarter. Penserra Capital Management LLC now owns 3,964,989 shares of the communications equipment provider’s stock worth $76,722,000 after purchasing an additional 1,425,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of A10 Networks by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,682,442 shares of the communications equipment provider’s stock valued at $43,840,000 after acquiring an additional 202,453 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of A10 Networks by 31.4% during the 2nd quarter. Boston Trust Walden Corp now owns 2,162,796 shares of the communications equipment provider’s stock valued at $41,850,000 after acquiring an additional 516,872 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of A10 Networks by 12.4% during the 2nd quarter. First Trust Advisors LP now owns 1,949,423 shares of the communications equipment provider’s stock valued at $37,721,000 after acquiring an additional 214,778 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

A10 Networks Company Profile

(Get Free Report)

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.

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