A10 Networks (NYSE:ATEN) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of A10 Networks (NYSE:ATEN) from a buy rating to a hold rating in a research report report published on Friday.

A number of other brokerages have also recently commented on ATEN. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of A10 Networks in a research note on Wednesday, February 5th. Craig Hallum increased their price target on shares of A10 Networks from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 5th.

A10 Networks Trading Down 3.9 %

Shares of ATEN opened at $20.32 on Friday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 30.32 and a beta of 1.14. The firm has a fifty day simple moving average of $19.38 and a 200 day simple moving average of $16.46. A10 Networks has a 12 month low of $12.27 and a 12 month high of $21.90.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. As a group, research analysts predict that A10 Networks will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, February 14th. A10 Networks’s payout ratio is presently 35.82%.

Hedge Funds Weigh In On A10 Networks

Several large investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of A10 Networks by 2.0% in the third quarter. State Street Corp now owns 3,171,077 shares of the communications equipment provider’s stock valued at $45,790,000 after purchasing an additional 62,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of A10 Networks by 11.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,989 shares of the communications equipment provider’s stock valued at $45,632,000 after purchasing an additional 249,145 shares during the period. Dimensional Fund Advisors LP raised its position in shares of A10 Networks by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,820,512 shares of the communications equipment provider’s stock valued at $33,498,000 after purchasing an additional 31,697 shares during the period. Geode Capital Management LLC raised its position in shares of A10 Networks by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,677,206 shares of the communications equipment provider’s stock valued at $30,868,000 after purchasing an additional 14,764 shares during the period. Finally, First Trust Advisors LP raised its position in shares of A10 Networks by 3.2% in the fourth quarter. First Trust Advisors LP now owns 1,501,332 shares of the communications equipment provider’s stock valued at $27,625,000 after purchasing an additional 45,868 shares during the period. 98.61% of the stock is owned by institutional investors.

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.