A10 Networks (NYSE:ATEN) Hits New 52-Week High on Earnings Beat

Shares of A10 Networks, Inc. (NYSE:ATEN - Get Free Report) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $20.01 and last traded at $19.87, with a volume of 3832 shares trading hands. The stock had previously closed at $19.70.

The communications equipment provider reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.03. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, February 14th. A10 Networks's dividend payout ratio (DPR) is 35.82%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ATEN shares. BWS Financial restated a "buy" rating and issued a $24.00 price objective on shares of A10 Networks in a research note on Wednesday. StockNews.com upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Finally, Craig Hallum increased their target price on shares of A10 Networks from $16.00 to $18.00 and gave the company a "hold" rating in a research note on Wednesday.

Insider Transactions at A10 Networks

In other news, EVP Karen S. Thomas sold 6,162 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On A10 Networks

A number of hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of A10 Networks by 3,389.8% in the fourth 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 in the last quarter. GAMMA Investing LLC lifted its stake in A10 Networks by 43.5% in 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 in the last quarter. Copeland Capital Management LLC bought a new stake in A10 Networks in the 3rd quarter valued at approximately $43,000. KBC Group NV boosted its position in A10 Networks by 79.1% during the 4th quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider's stock worth $94,000 after acquiring an additional 2,251 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of A10 Networks by 95.4% in the third quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider's stock valued at $82,000 after purchasing an additional 2,762 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

A10 Networks Price Performance

The firm has a market cap of $1.52 billion, a P/E ratio of 30.65 and a beta of 1.14. The stock's 50-day moving average price is $18.66 and its 200 day moving average price is $15.80.

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.