A10 Networks (NYSE:ATEN) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of A10 Networks (NYSE:ATEN) from a buy rating to a hold rating in a report released on Monday.

Other research analysts have also recently issued reports about the company. BWS Financial reissued a buy rating and issued a $17.00 target price on shares of A10 Networks in a research report on Wednesday, May 1st. Craig Hallum raised their target price on A10 Networks from $15.00 to $16.00 and gave the stock a buy rating in a research report on Wednesday, May 1st.

A10 Networks Price Performance

A10 Networks stock opened at $13.70 on Monday. A10 Networks has a one year low of $10.03 and a one year high of $16.46. The stock has a market capitalization of $1.02 billion, a PE ratio of 22.46 and a beta of 1.12. The business’s fifty day moving average is $14.56 and its 200 day moving average is $13.80.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $60.70 million for the quarter, compared to analysts’ expectations of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. A10 Networks’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, sell-side analysts expect that A10 Networks will post 0.66 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a $0.06 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.24 annualized dividend and a yield of 1.75%. A10 Networks’s payout ratio is 39.34%.

Insider Activity

In other news, Director Peter Y. Chung sold 3,296,047 shares of A10 Networks stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $15.40, for a total transaction of $50,759,123.80. Following the transaction, the director now directly owns 619,166 shares of the company’s stock, valued at approximately $9,535,156.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of A10 Networks by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock valued at $104,697,000 after buying an additional 185,362 shares in the last quarter. Meritage Portfolio Management lifted its position in shares of A10 Networks by 30.3% during the 4th quarter. Meritage Portfolio Management now owns 32,220 shares of the communications equipment provider’s stock valued at $424,000 after buying an additional 7,484 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of A10 Networks by 37.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after buying an additional 676,509 shares in the last quarter. Verity Asset Management Inc. raised its stake in A10 Networks by 1.7% during the 3rd quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock valued at $1,378,000 after purchasing an additional 1,515 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in A10 Networks by 93.6% during the 4th quarter. Russell Investments Group Ltd. now owns 561,155 shares of the communications equipment provider’s stock valued at $7,390,000 after purchasing an additional 271,303 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.