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

Key Points

• A10 Networks, Inc. has received a consensus rating of "Moderate Buy" from six brokerages, with an average target price set at $22.00.
• The company's quarterly earnings report indicated an EPS of $0.21, surpassing analyst expectations and showing a 15.5% increase in revenue year-over-year.
• A10 Networks recently announced a quarterly dividend of $0.06 per share, representing an annual yield of 1.4%.

A10 Networks, Inc. (NYSE:ATEN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.00.

A number of research firms recently commented on ATEN. Mizuho began coverage on A10 Networks in a report on Monday, July 14th. They set a "neutral" rating for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a report on Wednesday, September 3rd. Wall Street Zen upgraded A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Deutsche Bank Aktiengesellschaft began 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. Finally, BTIG Research upgraded A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a report on Wednesday, August 6th.

A10 Networks Stock Up 0.6%

Shares of NYSE ATEN traded up $0.11 during mid-day trading on Wednesday, hitting $17.56. The company had a trading volume of 89,882 shares, compared to its average volume of 929,266. The company has a market capitalization of $1.27 billion, a PE ratio of 25.84 and a beta of 1.37. The firm has a 50-day simple moving average of $17.99 and a two-hundred day simple moving average of $17.65. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. A10 Networks has a one year low of $13.58 and a one year high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $69.38 million during the quarter, compared to analysts' expectations of $65.99 million. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.A10 Networks's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. On average, equities analysts expect that A10 Networks will post 0.69 EPS for the current year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is presently 35.29%.

Insider Transactions at A10 Networks

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the firm'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 transaction of $115,392.00. Following the completion of the sale, the chief financial officer directly owned 77,599 shares in the company, valued at $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On A10 Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake 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 valued at $120,823,000 after acquiring an additional 34,634 shares during the last quarter. Penserra Capital Management LLC increased its stake 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 valued at $76,722,000 after acquiring an additional 1,425,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in A10 Networks by 8.2% in the first 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 increased its stake in A10 Networks by 31.4% in the second 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 increased its stake in A10 Networks by 12.4% in the second 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

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.