A10 Networks (NYSE:ATEN) Trading Down 3.2%

Shares of A10 Networks, Inc. (NYSE:ATEN) were down 3.2% during mid-day trading on Monday . The company traded as low as $13.40 and last traded at $13.40. Approximately 73,359 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 801,735 shares. The stock had previously closed at $13.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ATEN shares. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Craig Hallum raised their target price on A10 Networks from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, BWS Financial reiterated a “buy” rating and issued a $17.00 target price on shares of A10 Networks in a research note on Wednesday, May 1st.

A10 Networks Price Performance

The company has a market capitalization of $991.43 million, a price-to-earnings ratio of 21.83 and a beta of 1.15. The business has a fifty day moving average price of $14.51 and a 200 day moving average price of $13.79.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $60.70 million for the quarter, compared to analyst estimates of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Research analysts anticipate that A10 Networks, Inc. will post 0.66 earnings per share for the current year.

A10 Networks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, May 14th. A10 Networks’s dividend payout ratio (DPR) is 39.34%.

Insider Activity

In related 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 $9,535,156.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.82% of the company’s stock.

Institutional Inflows and Outflows

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

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.