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 research note published on Wednesday morning.

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

A10 Networks Stock Down 1.0 %

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

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

A10 Networks Dividend Announcement

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

Institutional Investors Weigh In On A10 Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATEN. Canada Pension Plan Investment Board purchased a new stake in shares of A10 Networks during the 2nd quarter worth about $29,000. Quarry LP purchased a new stake in A10 Networks during the second quarter worth approximately $47,000. nVerses Capital LLC acquired a new stake in shares of A10 Networks in the second quarter worth $105,000. Meeder Asset Management Inc. purchased a new position in shares of A10 Networks in the 2nd quarter valued at $137,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of A10 Networks during the 2nd quarter valued at $148,000. 98.61% of the stock is currently 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.