A10 Networks (NYSE:ATEN) Raised to Buy at StockNews.com

A10 Networks (NYSE:ATEN) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, BWS Financial reaffirmed a “buy” rating and issued a $17.00 target price on shares of A10 Networks in a report on Tuesday, July 9th.

A10 Networks Stock Up 1.1 %

ATEN opened at $14.31 on Friday. The firm has a market capitalization of $1.07 billion, a P/E ratio of 23.46 and a beta of 1.11. The stock’s 50 day moving average price is $13.45 and its two-hundred day moving average price is $13.87. A10 Networks has a 12-month low of $10.55 and a 12-month high of $16.46.

A10 Networks (NYSE:ATEN) last released its earnings results on Tuesday, July 30th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $60.10 million for the quarter, compared to analyst estimates of $64.30 million. A10 Networks had a return on equity of 21.29% and a net margin of 17.51%. The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. As a group, analysts anticipate that A10 Networks will post 0.65 earnings per share for the current year.

Institutional Trading of A10 Networks

Several institutional investors have recently modified their holdings of ATEN. First Trust Advisors LP grew its holdings in shares of 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 worth $58,883,000 after purchasing an additional 2,040,007 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of A10 Networks by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 7,068,348 shares of the communications equipment provider’s stock worth $93,090,000 after buying an additional 102,501 shares during the period. Quadrature Capital Ltd bought a new position in shares of A10 Networks during the 4th quarter worth approximately $233,000. Bridge City Capital LLC lifted its position in shares of A10 Networks by 2.3% during the 1st quarter. Bridge City Capital LLC now owns 347,160 shares of the communications equipment provider’s stock worth $4,753,000 after buying an additional 7,873 shares during the period. Finally, Guidance Capital Inc. lifted its position in shares of A10 Networks by 70.2% during the 1st quarter. Guidance Capital Inc. now owns 32,294 shares of the communications equipment provider’s stock worth $418,000 after buying an additional 13,320 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

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.