Brokerages Set A10 Networks, Inc. (NYSE:ATEN) Target Price at $22.00

Shares of A10 Networks, Inc. (NYSE:ATEN) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $22.00.

Several research analysts have issued reports on the company. Mizuho assumed coverage on A10 Networks in a research note on Monday, July 14th. They set a “neutral” rating for the company. Wall Street Zen upgraded A10 Networks from a “hold” rating to a “buy” rating in a research note on Sunday, August 10th. Deutsche Bank Aktiengesellschaft began coverage on A10 Networks in a research note on Friday, June 27th. They set a “buy” rating and a $22.00 price objective for the company. Weiss Ratings restated a “hold (c+)” rating on shares of A10 Networks in a report on Wednesday, September 3rd. Finally, BTIG Research upgraded A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, August 6th.

A10 Networks Stock Performance

A10 Networks stock opened at $17.43 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04. The stock has a fifty day moving average price of $17.99 and a two-hundred day moving average price of $17.68. A10 Networks has a 52-week low of $13.30 and a 52-week high of $21.90. The firm has a market capitalization of $1.26 billion, a P/E ratio of 25.64 and a beta of 1.37.

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

A10 Networks Announces Dividend

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

Insider Activity at A10 Networks

In other news, CFO Brian Becker sold 6,400 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total transaction of $115,392.00. Following the sale, the chief financial officer directly owned 77,599 shares of the company’s stock, valued at $1,399,109.97. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.15% of the stock is owned by company insiders.

Institutional Trading of A10 Networks

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of A10 Networks by 3.0% during the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider’s stock valued at $6,806,000 after purchasing an additional 12,282 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in A10 Networks during the 1st quarter worth about $295,000. Squarepoint Ops LLC raised its holdings in A10 Networks by 363.8% during the 4th quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider’s stock worth $2,206,000 after purchasing an additional 94,032 shares during the last quarter. GAMMA Investing LLC raised its holdings in A10 Networks by 1,938.5% during the 1st quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider’s stock worth $818,000 after purchasing an additional 47,610 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in A10 Networks by 50.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider’s stock worth $336,000 after purchasing an additional 6,893 shares during the last quarter. 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.