A10 Networks (NYSE:ATEN) Hits New 1-Year High – Time to Buy?

A10 Networks, Inc. (NYSE:ATEN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $19.63 and last traded at $19.53, with a volume of 177925 shares. The stock had previously closed at $19.11.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ATEN shares. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. BWS Financial lifted their target price on shares of A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Craig Hallum cut shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Friday, November 8th.

A10 Networks Stock Up 1.1 %

The stock has a market capitalization of $1.43 billion, a PE ratio of 28.84 and a beta of 1.14. The firm’s fifty day moving average price is $18.27 and its two-hundred day moving average price is $15.55.

A10 Networks (NYSE:ATEN) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $66.72 million during the quarter, compared to the consensus estimate of $63.78 million. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, analysts predict that A10 Networks, Inc. will post 0.6 EPS for the current year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Monday, November 18th. A10 Networks’s dividend payout ratio is 35.82%.

Insiders Place Their Bets

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the transaction, the executive vice president now directly owns 23,799 shares in the company, valued at approximately $397,443.30. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.81% of the company’s stock.

Institutional Investors Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp grew its holdings in 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. Geode Capital Management LLC lifted its position in shares of A10 Networks by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,662,442 shares of the communications equipment provider’s stock valued at $24,010,000 after buying an additional 89,175 shares in the last quarter. Barclays PLC grew its stake in shares of A10 Networks by 234.1% during the 3rd quarter. Barclays PLC now owns 152,238 shares of the communications equipment provider’s stock valued at $2,198,000 after acquiring an additional 106,672 shares during the period. Quest Partners LLC increased its holdings in A10 Networks by 262.1% in the 3rd quarter. Quest Partners LLC now owns 56,245 shares of the communications equipment provider’s stock worth $812,000 after acquiring an additional 40,712 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in A10 Networks by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 389,088 shares of the communications equipment provider’s stock worth $5,618,000 after acquiring an additional 41,141 shares during the period. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

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.