A10 Networks (NYSE:ATEN) Coverage Initiated at Mizuho

Mizuho began coverage on shares of A10 Networks (NYSE:ATEN - Free Report) in a research note published on Monday morning, Marketbeat.com reports. The firm issued a neutral rating on the communications equipment provider's stock.

A number of other equities analysts have also recently issued reports on ATEN. BWS Financial reaffirmed a "buy" rating and issued a $24.00 price objective on shares of A10 Networks in a research note on Friday, May 2nd. Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research report on Friday, May 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of A10 Networks in a report on Tuesday, July 1st. Wall Street Zen lowered A10 Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks in a report on Friday, June 27th. They issued a "buy" rating and a $22.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Trading Down 2.4%

Shares of ATEN traded down $0.44 during trading hours on Monday, hitting $17.83. 1,577,084 shares of the stock traded hands, compared to its average volume of 987,550. The business has a fifty day moving average of $18.06 and a 200-day moving average of $18.20. The firm has a market capitalization of $1.28 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 4.33 and a beta of 1.39. A10 Networks has a 1-year low of $12.27 and a 1-year high of $21.90. The company has a current ratio of 4.05, a quick ratio of 3.87 and a debt-to-equity ratio of 1.11.

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

A10 Networks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. A10 Networks's payout ratio is 35.82%.

Insider Buying and Selling

In other news, General Counsel Robert Scott Weber sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 owned 61,007 shares in the company, valued at $1,052,980.82. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On A10 Networks

Institutional investors have recently added to or reduced their stakes in the stock. Vestcor Inc bought a new position in A10 Networks during the 1st quarter worth about $44,000. Sunbelt Securities Inc. acquired a new position in shares of A10 Networks during the fourth quarter worth about $50,000. Caitong International Asset Management Co. Ltd bought a new position in shares of A10 Networks during the first quarter worth about $55,000. CWM LLC raised its position 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 buying an additional 1,454 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in A10 Networks in the 4th quarter valued at approximately $161,000. 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.