A10 Networks (NYSE:ATEN) Cut to “Hold (C)” at Weiss Ratings

by · The Cerbat Gem

Weiss Ratings cut shares of A10 Networks (NYSE:ATEN – Free Report) from a buy (b-) rating to a hold (c) rating in a research note published on Saturday morning,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the company. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of A10 Networks in a research note on Friday, May 2nd. Craig Hallum raised A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, May 2nd. StockNews.com cut A10 Networks from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Raymond James initiated coverage on A10 Networks in a research note on Wednesday, April 23rd. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Read Our Latest Stock Analysis on A10 Networks

A10 Networks Stock Up 4.1%

Shares of A10 Networks stock opened at $17.86 on Friday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 26.66 and a beta of 1.37. A10 Networks has a twelve month low of $12.27 and a twelve month high of $21.90. The business has a 50-day moving average price of $16.76 and a 200-day moving average price of $17.84.

A10 Networks (NYSE:ATEN – Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $66.14 million during the quarter, compared to analyst estimates of $63.63 million. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. On average, equities analysts expect that A10 Networks will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.34%. A10 Networks’s dividend payout ratio is currently 35.82%.

Institutional Trading of A10 Networks

A number of hedge funds have recently bought and sold shares of ATEN. MassMutual Private Wealth & Trust FSB lifted 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 valued at $38,000 after purchasing an additional 2,000 shares during the last quarter. Vestcor Inc acquired a new stake in A10 Networks during the 1st quarter worth about $44,000. GAMMA Investing LLC grew 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. Sunbelt Securities Inc. acquired a new stake in shares of A10 Networks during the 4th quarter valued at about $50,000. Finally, CWM LLC grew its position in shares of A10 Networks by 45.6% during the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock valued at $76,000 after acquiring an additional 1,454 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.

About A10 Networks

(Get Free Report)

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.

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