StockNews.com Upgrades A10 Networks (NYSE:ATEN) to “Buy”

StockNews.com upgraded shares of A10 Networks (NYSE:ATEN) from a hold rating to a buy rating in a report published on Wednesday.

Separately, BWS Financial reissued a “buy” rating and issued a $17.00 price objective on shares of A10 Networks in a research report on Tuesday, July 9th.

A10 Networks Stock Down 1.0 %

ATEN stock opened at $14.59 on Wednesday. A10 Networks has a 52 week low of $10.55 and a 52 week high of $16.46. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 23.92 and a beta of 1.11. The business has a fifty day simple moving average of $13.77 and a 200-day simple moving average of $13.94.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, July 30th. The communications equipment provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. A10 Networks had a return on equity of 21.29% and a net margin of 17.51%. The company had revenue of $60.10 million for the quarter, compared to the consensus estimate of $64.30 million. During the same period last year, the business posted $0.14 EPS. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, analysts expect that A10 Networks will post 0.65 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.64%. A10 Networks’s payout ratio is currently 39.34%.

Hedge Funds Weigh In On A10 Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its stake in shares of A10 Networks by 15.6% during the second quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock valued at $638,000 after purchasing an additional 6,217 shares during the period. Vanguard Group Inc. lifted its holdings in A10 Networks by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 7,068,348 shares of the communications equipment provider’s stock worth $93,090,000 after buying an additional 102,501 shares in the last quarter. SG Americas Securities LLC purchased a new position in A10 Networks in the 2nd quarter valued at about $1,201,000. Point72 DIFC Ltd acquired a new stake in shares of A10 Networks during the second quarter valued at about $516,000. Finally, Russell Investments Group Ltd. increased its position in shares of A10 Networks by 4.4% during the first quarter. Russell Investments Group Ltd. now owns 585,827 shares of the communications equipment provider’s stock worth $8,020,000 after acquiring an additional 24,672 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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.