A10 Networks (NYSE:ATEN) Price Target Raised to $16.00 at Craig Hallum

A10 Networks (NYSE:ATEN) had its price objective hoisted by Craig Hallum from $15.00 to $16.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

Separately, BWS Financial lifted their price objective on shares of A10 Networks from $15.00 to $17.00 and gave the stock a buy rating in a report on Wednesday, February 7th.

A10 Networks Stock Up 17.7 %

A10 Networks stock opened at $15.38 on Wednesday. A10 Networks has a 52 week low of $10.03 and a 52 week high of $15.99. The company’s 50 day moving average price is $13.55 and its two-hundred day moving average price is $12.94. The stock has a market cap of $1.15 billion, a P/E ratio of 29.01 and a beta of 1.10.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. A10 Networks had a net margin of 15.88% and a return on equity of 21.67%. The business had revenue of $60.70 million during the quarter, compared to analyst estimates of $59.43 million. During the same period in the previous year, the business earned $0.09 EPS. A10 Networks’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that A10 Networks will post 0.66 EPS for the current year.

A10 Networks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, May 14th. A10 Networks’s dividend payout ratio is 45.28%.

Insider Activity

In other news, CEO Dhrupad Trivedi sold 8,679 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $13.06, for a total transaction of $113,347.74. Following the sale, the chief executive officer now owns 556,420 shares in the company, valued at $7,266,845.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Brian Becker sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $12.93, for a total value of $193,950.00. Following the sale, the chief financial officer now directly owns 34,252 shares in the company, valued at approximately $442,878.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dhrupad Trivedi sold 8,679 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $13.06, for a total transaction of $113,347.74. Following the completion of the sale, the chief executive officer now owns 556,420 shares in the company, valued at $7,266,845.20. The disclosure for this sale can be found here. Insiders have sold a total of 121,146 shares of company stock worth $1,598,166 over the last 90 days. 5.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On A10 Networks

A number of large investors have recently made changes to their positions in ATEN. BNP Paribas Financial Markets raised its stake in shares of A10 Networks by 20.4% during the 1st quarter. BNP Paribas Financial Markets now owns 106,548 shares of the communications equipment provider’s stock worth $1,459,000 after acquiring an additional 18,073 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in A10 Networks by 69.2% during the first quarter. Assenagon Asset Management S.A. now owns 638,894 shares of the communications equipment provider’s stock worth $8,746,000 after buying an additional 261,198 shares in the last quarter. Guidance Capital Inc. boosted its holdings in A10 Networks by 70.2% during the first quarter. Guidance Capital Inc. now owns 32,294 shares of the communications equipment provider’s stock worth $418,000 after buying an additional 13,320 shares in the last quarter. Bridge City Capital LLC boosted its holdings in A10 Networks by 2.3% during the first quarter. Bridge City Capital LLC now owns 347,160 shares of the communications equipment provider’s stock worth $4,753,000 after buying an additional 7,873 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in A10 Networks during the fourth quarter valued at $233,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.