A10 Networks’ (ATEN) Buy Rating Reiterated at BWS Financial

BWS Financial reissued their buy rating on shares of A10 Networks (NYSE:ATEN) in a research note published on Wednesday, Benzinga reports. They currently have a $17.00 price target on the communications equipment provider’s stock. BWS Financial also issued estimates for A10 Networks’ Q2 2024 earnings at $0.14 EPS and Q4 2024 earnings at $0.21 EPS.

Separately, Craig Hallum boosted their price target on shares of A10 Networks from $15.00 to $16.00 and gave the stock a buy rating in a report on Wednesday.

A10 Networks Stock Down 1.2 %

NYSE:ATEN opened at $15.15 on Wednesday. A10 Networks has a 52 week low of $10.03 and a 52 week high of $15.99. The stock’s 50-day moving average price is $13.63 and its 200-day moving average price is $12.99. The stock has a market capitalization of $1.13 billion, a PE ratio of 24.84 and a beta of 1.13.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $60.70 million for the quarter, compared to analyst estimates of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. A10 Networks’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Sell-side analysts expect that A10 Networks will post 0.66 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.24 annualized dividend and a yield of 1.58%. A10 Networks’s dividend payout ratio (DPR) is currently 39.34%.

Insider Buying and Selling at A10 Networks

In related news, CFO Brian Becker sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $12.93, for a total transaction of $193,950.00. Following the completion of the sale, the chief financial officer now directly owns 34,252 shares in the company, valued at $442,878.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Dhrupad Trivedi sold 60,606 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total value of $804,241.62. Following the transaction, the chief executive officer now directly owns 495,814 shares of the company’s stock, valued at $6,579,451.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian Becker sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $12.93, for a total transaction of $193,950.00. Following the transaction, the chief financial officer now owns 34,252 shares in the company, valued at $442,878.36. The disclosure for this sale can be found here. Insiders sold 86,332 shares of company stock valued at $1,138,273 over the last quarter. 5.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ATEN. Vanguard Group Inc. increased its holdings in shares of A10 Networks by 2.7% in the third quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock valued at $104,697,000 after purchasing an additional 185,362 shares during the last quarter. Meritage Portfolio Management raised its stake in A10 Networks by 30.3% during the fourth quarter. Meritage Portfolio Management now owns 32,220 shares of the communications equipment provider’s stock worth $424,000 after purchasing an additional 7,484 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of A10 Networks by 37.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after buying an additional 676,509 shares during the period. Verity Asset Management Inc. increased its holdings in shares of A10 Networks by 1.7% during the 3rd quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock worth $1,378,000 after buying an additional 1,515 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of A10 Networks by 38.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 158,383 shares of the communications equipment provider’s stock valued at $2,380,000 after buying an additional 43,781 shares during the period. 98.61% of the stock is owned by hedge funds and other 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.