A10 Networks (NYSE:ATEN) Sets New 52-Week High – Here’s What Happened

Shares of A10 Networks, Inc. (NYSE:ATEN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $21.98 and last traded at $21.62, with a volume of 2039 shares. The stock had previously closed at $21.64.

Analyst Upgrades and Downgrades

ATEN has been the subject of a number of research analyst reports. Craig Hallum raised their price target on A10 Networks from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, February 5th. BWS Financial reissued a “buy” rating and set a $24.00 price target on shares of A10 Networks in a research note on Wednesday, February 5th. Finally, StockNews.com lowered A10 Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 10th.

A10 Networks Stock Performance

The stock has a fifty day moving average price of $19.31 and a 200-day moving average price of $16.32. The firm has a market capitalization of $1.56 billion, a PE ratio of 31.51 and a beta of 1.14.

A10 Networks (NYSE:ATEN) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. Research analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.14%. A10 Networks’s dividend payout ratio (DPR) is presently 35.82%.

Hedge Funds Weigh In On A10 Networks

Several institutional investors and hedge funds have recently modified their holdings of ATEN. State Street Corp raised its holdings in A10 Networks by 2.0% in the 3rd quarter. State Street Corp now owns 3,171,077 shares of the communications equipment provider’s stock worth $45,790,000 after purchasing an additional 62,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in A10 Networks by 11.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,989 shares of the communications equipment provider’s stock worth $45,632,000 after buying an additional 249,145 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in A10 Networks by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,820,512 shares of the communications equipment provider’s stock worth $33,498,000 after buying an additional 31,697 shares in the last quarter. Geode Capital Management LLC increased its stake in A10 Networks by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,677,206 shares of the communications equipment provider’s stock worth $30,868,000 after buying an additional 14,764 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in A10 Networks by 3.2% during the 4th quarter. First Trust Advisors LP now owns 1,501,332 shares of the communications equipment provider’s stock worth $27,625,000 after buying an additional 45,868 shares in the last quarter. Institutional investors and hedge funds 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.