A10 Networks (NYSE:ATEN) Shares Down 4% - What's Next?

A10 Networks, Inc. (NYSE:ATEN - Get Free Report)'s share price fell 4% during mid-day trading on Monday . The stock traded as low as $17.01 and last traded at $17.52. 292,243 shares were traded during trading, a decline of 64% from the average session volume of 821,965 shares. The stock had previously closed at $18.26.

Wall Street Analysts Forecast Growth

ATEN has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on shares of A10 Networks in a report on Wednesday, April 23rd. They issued a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 target price on the stock. BWS Financial reaffirmed a "buy" rating and set a $24.00 price target on shares of A10 Networks in a research report on Friday, May 2nd. 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 report on Friday, May 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of A10 Networks in a research report on Tuesday, July 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.00.

A10 Networks Trading Down 2.6%

The business has a 50-day moving average of $18.06 and a 200-day moving average of $18.20. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 4.33 and a beta of 1.39. The company has a quick ratio of 3.87, a current ratio of 4.05 and a debt-to-equity ratio of 1.11.

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

A10 Networks Dividend Announcement

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

Insider Activity

In other A10 Networks news, General Counsel Robert Scott Weber sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value of $43,150.00. Following the completion of the sale, the general counsel owned 61,007 shares in the company, valued at approximately $1,052,980.82. The trade was 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATEN. Federated Hermes Inc. raised its position in A10 Networks by 1.8% during the first quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider's stock worth $743,000 after acquiring an additional 783 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in shares of A10 Networks by 7.9% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider's stock valued at $215,000 after buying an additional 963 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in shares of A10 Networks by 3.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the communications equipment provider's stock worth $574,000 after buying an additional 1,010 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of A10 Networks by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 80,299 shares of the communications equipment provider's stock worth $1,312,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Verity Asset Management Inc. raised its holdings in A10 Networks by 1.7% in the 1st quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock valued at $1,334,000 after acquiring an additional 1,378 shares during the last quarter. 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.

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