A10 Networks (NYSE:ATEN) Sets New 1-Year High - Here's What Happened

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

Wall Street Analysts Forecast Growth

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

A10 Networks Stock Performance

The firm has a market cap of $1.44 billion, a PE ratio of 29.02 and a beta of 1.14. The stock has a 50 day simple moving average of $18.05 and a two-hundred day simple moving average of $15.38.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $63.78 million. During the same period last year, the business earned $0.12 earnings per share. A10 Networks's quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts forecast that A10 Networks, Inc. will post 0.6 earnings per share for the current year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, November 18th. A10 Networks's payout ratio is currently 35.82%.

Insider Activity

In related 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 sale, the executive vice president now owns 23,799 shares of the company's stock, valued at approximately $397,443.30. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.81% of the company's stock.

Hedge Funds Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently made changes to their positions in ATEN. Canada Pension Plan Investment Board acquired a new stake in A10 Networks in the 2nd quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB grew its position 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. Copeland Capital Management LLC purchased a new stake in shares of A10 Networks in the third quarter valued at approximately $43,000. GAMMA Investing LLC increased its holdings in shares of A10 Networks by 43.5% in the fourth quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider's stock valued at $45,000 after purchasing an additional 744 shares during the last quarter. Finally, Quarry LP purchased a new position in A10 Networks during the second quarter worth approximately $47,000. Hedge funds and other 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.

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