A10 Networks, Inc. (NYSE:ATEN) Receives $22.00 Average Target Price from Brokerages

Shares of A10 Networks, Inc. (NYSE:ATEN) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $22.00.

A number of analysts have issued reports on the stock. BTIG Research upgraded shares of A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, August 6th. Mizuho initiated coverage on shares of A10 Networks in a research report on Monday, July 14th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of A10 Networks in a research report on Friday, June 27th. They issued a “buy” rating and a $22.00 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of A10 Networks in a research report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research report on Sunday, August 10th.

A10 Networks Price Performance

NYSE ATEN opened at $17.43 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.26 billion, a PE ratio of 25.64 and a beta of 1.37. The company has a 50 day moving average price of $17.99 and a two-hundred day moving average price of $17.68. A10 Networks has a 12-month low of $13.30 and a 12-month high of $21.90.

A10 Networks (NYSE:ATEN) last posted its 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. The firm had revenue of $69.38 million during the quarter, compared to analysts’ expectations of $65.99 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, equities analysts predict that A10 Networks will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks’s dividend payout ratio (DPR) is currently 35.29%.

Insider Activity at A10 Networks

In other news, CFO Brian Becker sold 6,400 shares of the firm’s 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 approximately $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in A10 Networks by 3.0% in the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider’s stock worth $6,806,000 after purchasing an additional 12,282 shares during the period. Assenagon Asset Management S.A. bought a new position in A10 Networks in the first quarter worth $295,000. Squarepoint Ops LLC lifted its position in A10 Networks by 363.8% in the fourth quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider’s stock worth $2,206,000 after purchasing an additional 94,032 shares during the period. GAMMA Investing LLC lifted its position in A10 Networks by 1,938.5% in the first quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider’s stock worth $818,000 after purchasing an additional 47,610 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in A10 Networks by 50.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider’s stock worth $336,000 after purchasing an additional 6,893 shares during the period. 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.