A10 Networks’ (ATEN) Buy Rating Reiterated at BWS Financial

BWS Financial reissued their buy rating on shares of A10 Networks (NYSE:ATEN) in a report issued on Wednesday morning, Benzinga reports. They currently have a $17.00 target price on the communications equipment provider’s stock. BWS Financial also issued estimates for A10 Networks’ Q2 2024 earnings at $0.14 EPS and Q4 2024 earnings at $0.21 EPS.

Separately, Craig Hallum increased their price target on shares of A10 Networks from $15.00 to $16.00 and gave the stock a buy rating in a report on Wednesday.

A10 Networks Stock Down 1.2 %

A10 Networks stock opened at $15.15 on Wednesday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 24.84 and a beta of 1.13. The business has a 50-day simple moving average of $13.63 and a 200 day simple moving average of $13.00. A10 Networks has a 52 week low of $10.03 and a 52 week high of $15.99.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. On average, research analysts anticipate that A10 Networks will post 0.66 earnings per share for the current year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, May 14th. A10 Networks’s payout ratio is currently 39.34%.

Insider Activity at A10 Networks

In other A10 Networks news, CEO Dhrupad Trivedi sold 8,679 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $13.06, for a total value of $113,347.74. Following the completion of the sale, the chief executive officer now owns 556,420 shares of the company’s stock, valued at $7,266,845.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other A10 Networks news, CFO Brian Becker sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $12.93, for a total transaction of $193,950.00. Following the completion of the sale, the chief financial officer now directly owns 34,252 shares in the company, valued at $442,878.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dhrupad Trivedi sold 8,679 shares of A10 Networks stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $13.06, for a total value of $113,347.74. Following the completion of the transaction, the chief executive officer now owns 556,420 shares in the company, valued at approximately $7,266,845.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,332 shares of company stock valued at $1,138,273. Corporate insiders own 5.81% of the company’s stock.

Institutional Investors Weigh In On A10 Networks

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in A10 Networks by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 7,068,348 shares of the communications equipment provider’s stock valued at $93,090,000 after purchasing an additional 102,501 shares during the last quarter. First Trust Advisors LP raised its holdings in A10 Networks by 83.9% during the 4th quarter. First Trust Advisors LP now owns 4,470,999 shares of the communications equipment provider’s stock valued at $58,883,000 after buying an additional 2,040,007 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in A10 Networks by 37.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after buying an additional 676,509 shares during the period. Dimensional Fund Advisors LP grew its holdings in A10 Networks by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,751,119 shares of the communications equipment provider’s stock worth $23,063,000 after acquiring an additional 81,908 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of A10 Networks by 18.7% in the third quarter. Legal & General Group Plc now owns 1,708,642 shares of the communications equipment provider’s stock valued at $25,681,000 after acquiring an additional 268,642 shares during the period. 98.61% of the stock is currently 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.