A10 Networks (NYSE:ATEN) Given New $24.00 Price Target at BWS Financial

A10 Networks (NYSE:ATEN) had its target price raised by BWS Financial from $17.00 to $24.00 in a research note released on Wednesday, Marketbeat Ratings reports. BWS Financial currently has a buy rating on the communications equipment provider’s stock.

ATEN has been the topic of a number of other reports. StockNews.com raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Craig Hallum lowered A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Friday, November 8th.

A10 Networks Trading Down 0.9 %

NYSE ATEN opened at $16.53 on Wednesday. A10 Networks has a 1-year low of $11.83 and a 1-year high of $16.92. The company has a 50 day moving average of $14.36 and a 200-day moving average of $14.15. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 24.63 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results 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 net margin of 19.29% and a return on equity of 22.69%. The business had revenue of $66.72 million for the quarter, compared to the consensus estimate of $63.78 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that A10 Networks will post 0.65 earnings per share for the current year.

A10 Networks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. A10 Networks’s dividend payout ratio is currently 35.82%.

Insider Buying and Selling

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following the sale, the executive vice president now directly owns 23,799 shares of the company’s stock, valued at $397,443.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On A10 Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Guidance Capital Inc. increased its holdings in A10 Networks by 2.0% during the third quarter. Guidance Capital Inc. now owns 36,355 shares of the communications equipment provider’s stock worth $530,000 after buying an additional 718 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of A10 Networks by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,239 shares of the communications equipment provider’s stock worth $377,000 after purchasing an additional 776 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of A10 Networks by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 203,054 shares of the communications equipment provider’s stock valued at $2,812,000 after purchasing an additional 804 shares during the period. Texas Permanent School Fund Corp lifted its stake in A10 Networks by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 61,174 shares of the communications equipment provider’s stock valued at $837,000 after purchasing an additional 973 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in A10 Networks by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,226 shares of the communications equipment provider’s stock worth $195,000 after purchasing an additional 984 shares during the period. Institutional investors own 98.61% of the company’s stock.

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.