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

Shares of A10 Networks, Inc. (NYSE:ATEN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the four ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $22.00.

Several research analysts recently weighed in on ATEN shares. Wall Street Zen cut shares of A10 Networks from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of A10 Networks in a report on Friday. They set a "buy" rating and a $22.00 target price for the company. Craig Hallum raised A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research note on Friday, May 2nd. Raymond James Financial assumed coverage on A10 Networks in a report on Wednesday, April 23rd. They set a "market perform" rating on the stock. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of A10 Networks in a research note on Saturday, June 14th.

A10 Networks Price Performance

Shares of A10 Networks stock traded up $0.21 during trading on Friday, hitting $19.33. 1,086,939 shares of the company's stock traded hands, compared to its average volume of 995,771. The company has a market cap of $1.39 billion, a PE ratio of 28.85 and a beta of 1.38. 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 has a twelve month low of $12.27 and a twelve month high of $21.90. The firm's fifty day moving average price is $17.41 and its 200 day moving average price is $18.14.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $66.14 million for the quarter, compared to the consensus estimate of $63.63 million. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Analysts forecast that A10 Networks will post 0.69 earnings per share for the current year.

A10 Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.24%. A10 Networks's payout ratio is presently 35.82%.

Insiders Place Their Bets

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the transaction, the general counsel owned 61,007 shares in the company, valued at approximately $1,052,980.82. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On A10 Networks

Several hedge funds have recently modified their holdings of ATEN. Boston Trust Walden Corp bought a new stake in A10 Networks in the first quarter valued at approximately $26,894,000. Wellington Management Group LLP increased its holdings in shares of A10 Networks by 390.9% in the first quarter. Wellington Management Group LLP now owns 1,130,119 shares of the communications equipment provider's stock valued at $18,466,000 after purchasing an additional 899,919 shares during the last quarter. Invesco Ltd. raised its position in shares of A10 Networks by 184.7% in the first quarter. Invesco Ltd. now owns 1,045,406 shares of the communications equipment provider's stock valued at $17,082,000 after purchasing an additional 678,207 shares during the period. Penserra Capital Management LLC lifted its stake in shares of A10 Networks by 29.9% during the 1st quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock worth $41,490,000 after buying an additional 584,116 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of A10 Networks by 364.8% during the 4th quarter. Marshall Wace LLP now owns 683,711 shares of the communications equipment provider's stock worth $12,580,000 after buying an additional 536,600 shares during the period. 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.