A10 Networks (NYSE:ATEN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of A10 Networks (NYSE:ATEN – Get Rating) in a research report released on Thursday morning. The firm issued a buy rating on the communications equipment provider’s stock.

A10 Networks Stock Down 2.4 %

Shares of NYSE ATEN opened at $14.40 on Thursday. A10 Networks has a fifty-two week low of $12.61 and a fifty-two week high of $19.79. The firm’s 50-day simple moving average is $15.24 and its 200 day simple moving average is $15.82. The stock has a market cap of $1.07 billion, a P/E ratio of 23.61 and a beta of 1.06.

A10 Networks (NYSE:ATEN – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. A10 Networks had a net margin of 16.73% and a return on equity of 22.65%. The business had revenue of $77.63 million for the quarter, compared to analysts’ expectations of $75.52 million. On average, sell-side analysts anticipate that A10 Networks will post 0.68 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 17th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Thursday, February 16th. A10 Networks’s dividend payout ratio is currently 39.34%.

Insider Buying and Selling

In related news, CEO Dhrupad Trivedi sold 7,270 shares of A10 Networks stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $15.83, for a total transaction of $115,084.10. Following the transaction, the chief executive officer now directly owns 527,366 shares of the company’s stock, valued at $8,348,203.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Dhrupad Trivedi sold 7,270 shares of A10 Networks stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $15.83, for a total transaction of $115,084.10. Following the transaction, the chief executive officer now directly owns 527,366 shares of the company’s stock, valued at $8,348,203.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Matthew P. Bruening sold 3,294 shares of A10 Networks stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $14.37, for a total value of $47,334.78. Following the transaction, the executive vice president now directly owns 124,459 shares in the company, valued at $1,788,475.83. The disclosure for this sale can be found here. Insiders have sold a total of 64,586 shares of company stock valued at $965,598 over the last three months. Company insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On A10 Networks

Institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in A10 Networks in the 3rd quarter worth about $27,000. Advisors Asset Management Inc. increased its stake in A10 Networks by 113.8% in the 4th quarter. Advisors Asset Management Inc. now owns 2,189 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 1,165 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in A10 Networks in the 1st quarter worth about $41,000. Advisor Group Holdings Inc. increased its stake in A10 Networks by 59.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,527 shares of the communications equipment provider’s stock worth $42,000 after purchasing an additional 944 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in A10 Networks by 97.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,984 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 1,472 shares in the last quarter. Hedge funds and other institutional investors own 88.86% of the company’s stock.

About A10 Networks

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A10 Networks, Inc engages in the provision of application networking solutions that help organizations ensure that their data center applications and networks remain available, accelerated, and secure. It offers cloud storage, enterprise solutions, security products, data center, application delivery, load balancing, and distributed denial of service protection.