A10 Networks (NYSE:ATEN) Share Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• A10 Networks shares have crossed above their 50-day moving average, indicating potential upward momentum, with the last traded price at $18.30.
• Analysts have recently upgraded their ratings for A10 Networks, with a consensus rating of "Moderate Buy" and a target price of $22.00.
• The company reported $0.21 EPS for the last quarter, surpassing estimates, and a year-over-year revenue increase of 15.5%.

A10 Networks, Inc. (NYSE:ATEN - Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $17.81 and traded as high as $18.36. A10 Networks shares last traded at $18.30, with a volume of 542,588 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ATEN shares. Wall Street Zen upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. BTIG Research upgraded shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a report on Wednesday, August 6th. Mizuho started coverage on shares of A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks in a research note on Friday, June 27th. They set a "buy" rating and a $22.00 target price for the company. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a research note on Thursday, September 18th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

A10 Networks Price Performance

The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.32 billion, a PE ratio of 26.91 and a beta of 1.27. The firm has a 50 day moving average price of $17.81 and a 200 day moving average price of $17.56.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $69.38 million during the quarter, compared to analyst estimates 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 was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. Research analysts anticipate that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date 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 company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total value 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 represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ATEN. Vestcor Inc bought a new position in A10 Networks in the 1st quarter worth $44,000. Caitong International Asset Management Co. Ltd bought a new position in A10 Networks in the 1st quarter worth $55,000. CWM LLC boosted its holdings in A10 Networks by 45.6% in the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock worth $76,000 after buying an additional 1,454 shares during the period. Tower Research Capital LLC TRC boosted its holdings in A10 Networks by 120.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,898 shares of the communications equipment provider's stock worth $114,000 after buying an additional 3,225 shares during the period. Finally, DRW Securities LLC bought a new position in A10 Networks in the 1st quarter worth $188,000. Institutional investors own 98.61% of the company's stock.

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.

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