A10 Networks (NYSE:ATEN) Hits New 12-Month High – Here’s Why

Shares of A10 Networks, Inc. (NYSE:ATEN) reached a new 52-week high during trading on Thursday . The stock traded as high as $19.44 and last traded at $19.42, with a volume of 258258 shares changing hands. The stock had previously closed at $19.03.

Wall Street Analysts Forecast Growth

ATEN has been the topic of several analyst reports. Craig Hallum lowered shares of 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. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, BWS Financial boosted their target price on A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

A10 Networks Stock Performance

The company has a market cap of $1.42 billion, a price-to-earnings ratio of 28.74 and a beta of 1.14. The company has a fifty day moving average of $18.17 and a two-hundred day moving average of $15.45.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The company had revenue of $66.72 million for the quarter, compared to analysts’ expectations of $63.78 million. During the same period in the previous year, the business posted $0.12 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts expect that A10 Networks, Inc. will post 0.6 EPS for the current fiscal year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.25%. A10 Networks’s payout ratio is 35.82%.

Insider Buying and Selling

In other news, EVP Karen S. Thomas sold 6,162 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following the completion of the sale, the executive vice president now directly owns 23,799 shares in the company, valued at $397,443.30. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.81% of the stock is owned by corporate insiders.

Institutional Trading of A10 Networks

A number of institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in shares of A10 Networks in the 2nd quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of A10 Networks by 3,389.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,059 shares of the communications equipment provider’s stock worth $38,000 after buying an additional 2,000 shares in the last quarter. Copeland Capital Management LLC bought a new stake in shares of A10 Networks in the 3rd quarter valued at $43,000. GAMMA Investing LLC lifted its position in shares of A10 Networks by 43.5% during the 4th quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider’s stock valued at $45,000 after acquiring an additional 744 shares during the period. Finally, Quarry LP acquired a new position in shares of A10 Networks during the 2nd quarter valued at $47,000. Institutional investors own 98.61% of the company’s stock.

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.