A10 Networks (NYSE:ATEN) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of A10 Networks (NYSE:ATEN) from a hold rating to a buy rating in a report issued on Wednesday.

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

A10 Networks Stock Up 0.7 %

ATEN stock opened at $14.72 on Wednesday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 24.13 and a beta of 1.11. A10 Networks has a fifty-two week low of $10.55 and a fifty-two week high of $16.46. The business has a 50 day moving average price of $13.70 and a 200 day moving average price of $13.92.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Tuesday, July 30th. The communications equipment provider reported $0.18 EPS 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 analyst estimates of $64.30 million. During the same period last year, the business earned $0.14 EPS. A10 Networks’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that A10 Networks will post 0.65 EPS for the current year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $0.06 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.24 annualized dividend and a yield of 1.63%. A10 Networks’s dividend payout ratio (DPR) is 39.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board acquired a new stake in shares of A10 Networks during the second quarter worth about $29,000. Quarry LP acquired a new position in shares of A10 Networks in the second quarter valued at approximately $47,000. nVerses Capital LLC purchased a new stake in shares of A10 Networks during the second quarter worth approximately $105,000. Meeder Asset Management Inc. acquired a new stake in shares of A10 Networks during the second quarter worth $137,000. Finally, Picton Mahoney Asset Management purchased a new position in A10 Networks in the 2nd quarter valued at $148,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.