A10 Networks, Inc. (NYSE:ATEN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• A10 Networks, Inc. has received a consensus rating of "Moderate Buy" from six analysts, with an average price target of $22.00.
• The company reported an earnings per share (EPS) of $0.21 for the last quarter, exceeding analysts' expectations, alongside a 15.5% year-over-year revenue growth.
• A10 Networks recently declared a quarterly dividend of $0.06 per share, which equates to a 1.4% dividend yield and has a payout ratio of 35.29%.

Shares of A10 Networks, Inc. (NYSE:ATEN - Get Free Report) have received a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.00.

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

Insiders Place Their Bets

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 77,599 shares in the company, valued at approximately $1,399,109.97. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.15% of the company's stock.

Hedge Funds Weigh In On A10 Networks

A number of large investors have recently added to or reduced their stakes in ATEN. Northern Trust Corp raised its position in A10 Networks by 5.1% during the fourth quarter. Northern Trust Corp now owns 765,209 shares of the communications equipment provider's stock worth $14,080,000 after acquiring an additional 36,887 shares during the period. BNP Paribas Financial Markets raised its position in A10 Networks by 131.1% during the fourth quarter. BNP Paribas Financial Markets now owns 97,521 shares of the communications equipment provider's stock worth $1,794,000 after acquiring an additional 55,314 shares during the period. Bank of America Corp DE grew its holdings in shares of A10 Networks by 43.5% during the fourth quarter. Bank of America Corp DE now owns 181,956 shares of the communications equipment provider's stock worth $3,348,000 after buying an additional 55,134 shares in the last quarter. Centiva Capital LP grew its holdings in shares of A10 Networks by 25.6% during the fourth quarter. Centiva Capital LP now owns 16,774 shares of the communications equipment provider's stock worth $309,000 after buying an additional 3,424 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of A10 Networks during the fourth quarter worth $239,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

A10 Networks Stock Performance

Shares of ATEN stock traded down $0.44 during trading hours on Wednesday, hitting $17.43. The company's stock had a trading volume of 499,322 shares, compared to its average volume of 599,879. The company has a 50 day moving average of $17.99 and a 200 day moving average of $17.68. The stock has a market cap of $1.26 billion, a PE ratio of 25.64 and a beta of 1.37. 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 12-month low of $13.30 and a 12-month high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $69.38 million for the quarter, compared to the consensus estimate of $65.99 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, sell-side analysts forecast that A10 Networks will post 0.69 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given 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 is currently 35.29%.

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.