A10 Networks (NYSE:ATEN) Reaches New 1-Year High After Strong Earnings

Shares of A10 Networks, Inc. (NYSE:ATEN) reached a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $20.01 and last traded at $19.87, with a volume of 3832 shares traded. The stock had previously closed at $19.70.

The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter, beating 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, February 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.15%. A10 Networks’s payout ratio is 35.82%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ATEN shares. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of A10 Networks in a report on Wednesday. StockNews.com raised A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Craig Hallum lifted their target price on A10 Networks from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday.

Insider Activity at A10 Networks

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.82% of the stock is owned by insiders.

Hedge Funds Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently made changes to their positions in ATEN. Millennium Management LLC bought a new stake in A10 Networks during the second quarter worth $9,562,000. Harbor Capital Advisors Inc. raised its holdings in shares of A10 Networks by 175.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 795,628 shares of the communications equipment provider’s stock valued at $11,489,000 after purchasing an additional 506,332 shares during the period. Weiss Asset Management LP acquired a new stake in A10 Networks in the 3rd quarter valued at about $2,295,000. Impax Asset Management Group plc grew its holdings in A10 Networks by 25.0% during the third quarter. Impax Asset Management Group plc now owns 687,500 shares of the communications equipment provider’s stock worth $9,928,000 after purchasing an additional 137,500 shares during the period. Finally, JPMorgan Chase & Co. increased its position in A10 Networks by 59.0% during the third quarter. JPMorgan Chase & Co. now owns 324,195 shares of the communications equipment provider’s stock worth $4,681,000 after buying an additional 120,342 shares during the last quarter. 98.61% of the stock is owned by institutional investors.

A10 Networks Stock Up 2.7 %

The stock has a market cap of $1.54 billion, a P/E ratio of 31.07 and a beta of 1.14. The firm has a 50 day simple moving average of $18.58 and a 200-day simple moving average of $15.76.

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.