A10 Networks (NYSE:ATEN) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has maintained a **Hold (C+)** rating for **A10 Networks (NYSE:ATEN)**, while multiple brokerages have upgraded the stock to a **Buy** rating with a target price of **$22.00**.
• A10 Networks reported a **quarterly EPS of $0.21**, exceeding estimates, and generated **$69.38 million in revenue**, marking a **15.5% increase** year-over-year.
• The company’s shares opened at **$18.17** with a **52-week range** of **$13.68 to $21.90**, and **institutional investors** own **98.61%** of its stock.

A10 Networks (NYSE:ATEN - Get Free Report)'s stock had its "hold (c+)" rating restated by research analysts at Weiss Ratings in a report released on Thursday,Weiss Ratings reports.

ATEN has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a report on Friday, June 27th. They set a "buy" rating and a $22.00 price target on the stock. Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Mizuho assumed coverage on A10 Networks in a report on Monday, July 14th. They set a "neutral" rating for the company. Finally, BTIG Research upgraded shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

A10 Networks Trading Up 0.1%

Shares of NYSE ATEN traded up $0.03 during trading on Thursday, hitting $18.36. 20,621 shares of the company were exchanged, compared to its average volume of 930,487. The firm has a market capitalization of $1.32 billion, a PE ratio of 26.90 and a beta of 1.37. A10 Networks has a 12-month low of $13.68 and a 12-month high of $21.90. The company has a fifty day moving average price of $17.85 and a 200-day moving average price of $17.55. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The firm had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. During the same period in the prior year, the company posted $0.18 earnings per share. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that A10 Networks will post 0.69 EPS for the current year.

Insider Activity

In other news, CFO Brian Becker sold 6,400 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total value of $115,392.00. Following the sale, the chief financial officer owned 77,599 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.15% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ATEN. Vanguard Group Inc. increased its holdings in A10 Networks by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 7,394,304 shares of the communications equipment provider's stock valued at $120,823,000 after acquiring an additional 34,634 shares in the last quarter. Penserra Capital Management LLC raised its position in A10 Networks by 56.2% in the second quarter. Penserra Capital Management LLC now owns 3,964,989 shares of the communications equipment provider's stock worth $76,722,000 after acquiring an additional 1,425,792 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of A10 Networks by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,682,442 shares of the communications equipment provider's stock valued at $43,840,000 after buying an additional 202,453 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of A10 Networks by 31.4% during the second quarter. Boston Trust Walden Corp now owns 2,162,796 shares of the communications equipment provider's stock worth $41,850,000 after buying an additional 516,872 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of A10 Networks by 12.4% in the second quarter. First Trust Advisors LP now owns 1,949,423 shares of the communications equipment provider's stock valued at $37,721,000 after purchasing an additional 214,778 shares in the last quarter. Institutional investors and hedge funds 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.