Brokerages Set A10 Networks, Inc. (NYSE:ATEN) Price Target at $22.00

A10 Networks, Inc. (NYSE:ATEN) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $22.00.

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

Insider Activity at A10 Networks

In related news, CFO Brian Becker sold 6,400 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total transaction of $115,392.00. Following the sale, the chief financial officer owned 77,599 shares of the company’s stock, valued at $1,399,109.97. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vestcor Inc purchased a new position in shares of A10 Networks during the 1st quarter worth about $44,000. Sunbelt Securities Inc. bought a new stake in A10 Networks in the fourth quarter worth about $50,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of A10 Networks during the first quarter valued at approximately $55,000. CWM LLC grew its stake in shares of A10 Networks by 45.6% during the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock valued at $76,000 after buying an additional 1,454 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of A10 Networks by 120.7% in the second 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. 98.61% of the stock is owned by hedge funds and other institutional investors.

A10 Networks Price Performance

NYSE ATEN opened at $17.43 on Wednesday. The business’s fifty day moving average is $17.99 and its 200 day moving average is $17.68. A10 Networks has a fifty-two week low of $13.30 and a fifty-two week high of $21.90. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. The company has a market capitalization of $1.26 billion, a PE ratio of 25.64 and a beta of 1.37.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $69.38 million for the quarter, compared to analysts’ expectations of $65.99 million. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Sell-side analysts predict that A10 Networks will post 0.69 earnings per share for the current year.

A10 Networks Dividend Announcement

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

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.