A10 Networks (NYSE:ATEN) Now Covered by Mizuho

Investment analysts at Mizuho initiated coverage on shares of A10 Networks (NYSE:ATEN) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “neutral” rating on the communications equipment provider’s stock.

A number of other brokerages have also recently issued reports on ATEN. Wall Street Zen cut A10 Networks from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a report on Friday, June 27th. They set a “buy” rating and a $22.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of A10 Networks in a report on Tuesday, July 1st. Craig Hallum raised A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Friday, May 2nd. Finally, Raymond James Financial began coverage on shares of A10 Networks in a research report on Wednesday, April 23rd. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, A10 Networks presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

A10 Networks Trading Up 0.6%

Shares of A10 Networks stock opened at $17.93 on Monday. A10 Networks has a 1 year low of $12.27 and a 1 year high of $21.90. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 4.22 and a beta of 1.39. The business has a fifty day simple moving average of $18.11 and a two-hundred day simple moving average of $18.19. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.05 and a quick ratio of 3.87.

A10 Networks (NYSE:ATEN) last posted its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $66.14 million during the quarter, compared to analysts’ expectations of $63.63 million. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. A10 Networks’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Research analysts forecast that A10 Networks will post 0.69 EPS for the current year.

Insider Buying and Selling

In other A10 Networks news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value 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 $1,052,980.82. The trade was a 3.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vestcor Inc acquired a new position in A10 Networks during the first quarter worth about $44,000. Sunbelt Securities Inc. acquired a new position in A10 Networks during the 4th quarter worth approximately $50,000. Caitong International Asset Management Co. Ltd bought a new position in A10 Networks in the 1st quarter valued at approximately $55,000. CWM LLC lifted its stake in A10 Networks by 45.6% in the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock valued at $76,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in A10 Networks in the fourth quarter valued at approximately $161,000. Institutional investors own 98.61% of the company’s stock.

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.