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

A10 Networks, Inc. (NYSE:ATEN)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $19.22 and last traded at $19.16, with a volume of 90110 shares. The stock had previously closed at $18.67.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BWS Financial raised their price target on A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Craig Hallum cut shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.

A10 Networks Stock Performance

The business has a 50-day moving average of $16.20 and a 200-day moving average of $14.53. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 28.34 and a beta of 1.16.

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

A10 Networks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, November 18th. A10 Networks’s dividend payout ratio is currently 35.82%.

Insider Activity at A10 Networks

In other news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the sale, the executive vice president now owns 23,799 shares of the company’s stock, valued at $397,443.30. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On A10 Networks

A number of hedge funds have recently added to or reduced their stakes in ATEN. Canada Pension Plan Investment Board acquired a new stake in shares of A10 Networks in the 2nd quarter valued at approximately $29,000. Copeland Capital Management LLC acquired a new stake in A10 Networks in the third quarter valued at $43,000. Quarry LP purchased a new stake in shares of A10 Networks during the 2nd quarter worth $47,000. Quantbot Technologies LP grew its stake in shares of A10 Networks by 95.4% during the 3rd quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock worth $82,000 after purchasing an additional 2,762 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of A10 Networks in the 2nd quarter valued at about $105,000. Institutional investors and hedge funds 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.