Craig Hallum Downgrades A10 Networks (NYSE:ATEN) to Hold

Craig Hallum lowered shares of A10 Networks (NYSE:ATEN) from a buy rating to a hold rating in a research note released on Friday morning, MarketBeat reports. They currently have $16.00 price target on the communications equipment provider’s stock.

Separately, StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

A10 Networks Stock Up 2.7 %

ATEN stock opened at $16.64 on Friday. The firm’s 50-day simple moving average is $14.23 and its 200 day simple moving average is $14.10. The stock has a market cap of $1.23 billion, a PE ratio of 24.84 and a beta of 1.11. A10 Networks has a fifty-two week low of $11.83 and a fifty-two week high of $16.71.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. A10 Networks had a return on equity of 22.83% and a net margin of 19.29%. The business had revenue of $66.72 million during the quarter, compared to the consensus estimate of $63.78 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. Equities analysts forecast that A10 Networks will post 0.65 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.06 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.44%. A10 Networks’s dividend payout ratio (DPR) is 35.82%.

Hedge Funds Weigh In On A10 Networks

Hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in A10 Networks during the second quarter valued at about $29,000. Copeland Capital Management LLC acquired a new stake in A10 Networks in the 3rd quarter valued at about $43,000. Quarry LP bought a new position in shares of A10 Networks during the 2nd quarter valued at about $47,000. nVerses Capital LLC acquired a new position in shares of A10 Networks in the 2nd quarter worth approximately $105,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of A10 Networks in the 2nd quarter worth approximately $137,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

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.