A10 Networks (NYSE:ATEN) PT Raised to $16.00 at Craig Hallum

A10 Networks (NYSE:ATEN) had its price target upped by Craig Hallum from $15.00 to $16.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

Separately, BWS Financial increased their target price on shares of A10 Networks from $15.00 to $17.00 and gave the stock a buy rating in a research report on Wednesday, February 7th.

A10 Networks Stock Performance

Shares of NYSE ATEN opened at $15.15 on Wednesday. A10 Networks has a 1 year low of $10.03 and a 1 year high of $15.99. The firm has a market cap of $1.13 billion, a P/E ratio of 24.84 and a beta of 1.13. The stock has a fifty day moving average price of $13.63 and a two-hundred day moving average price of $12.99.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The company had revenue of $60.70 million during the quarter, compared to analyst estimates of $59.43 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that A10 Networks will post 0.66 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.24 annualized dividend and a yield of 1.58%. A10 Networks’s dividend payout ratio is currently 39.34%.

Insider Buying and Selling

In other news, CFO Brian Becker sold 2,047 shares of A10 Networks stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $13.06, for a total transaction of $26,733.82. Following the completion of the sale, the chief financial officer now owns 49,252 shares in the company, valued at approximately $643,231.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other A10 Networks news, CFO Brian Becker sold 2,047 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $13.06, for a total value of $26,733.82. Following the completion of the sale, the chief financial officer now directly owns 49,252 shares in the company, valued at $643,231.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dhrupad Trivedi sold 8,679 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $13.06, for a total transaction of $113,347.74. Following the completion of the transaction, the chief executive officer now owns 556,420 shares of the company’s stock, valued at approximately $7,266,845.20. The disclosure for this sale can be found here. Insiders have sold a total of 86,332 shares of company stock worth $1,138,273 in the last 90 days. Corporate insiders own 5.81% of the company’s stock.

Institutional Investors Weigh In On A10 Networks

Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of A10 Networks during the 4th quarter worth about $163,000. Harbor Capital Advisors Inc. increased its stake in A10 Networks by 6.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock worth $176,000 after acquiring an additional 816 shares during the period. Quantbot Technologies LP acquired a new position in A10 Networks in the third quarter valued at about $181,000. Gladius Capital Management LP raised its position in shares of A10 Networks by 20.8% in the 4th quarter. Gladius Capital Management LP now owns 16,138 shares of the communications equipment provider’s stock valued at $213,000 after buying an additional 2,782 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in A10 Networks during the third quarter worth $227,000. 98.61% of the stock is owned by 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.