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

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

ATEN has been the topic of several other research reports. BWS Financial reiterated a “buy” rating and issued a $17.00 price target on shares of A10 Networks in a research note on Wednesday, May 1st. Craig Hallum boosted their price target on shares of A10 Networks from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st.

A10 Networks Stock Performance

Shares of NYSE:ATEN opened at $13.51 on Tuesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 22.15 and a beta of 1.15. The firm has a fifty day moving average price of $14.47 and a 200 day moving average price of $13.75. A10 Networks has a fifty-two week low of $10.03 and a fifty-two week high of $16.46.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $60.70 million for the quarter, compared to analysts’ expectations of $59.43 million. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, research analysts predict that A10 Networks will post 0.66 earnings per share for the current year.

Insider Activity

In other news, Director Peter Y. Chung sold 3,296,047 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.40, for a total transaction of $50,759,123.80. Following the sale, the director now directly owns 619,166 shares in the company, valued at approximately $9,535,156.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.82% of the company’s stock.

Hedge Funds Weigh In On A10 Networks

Several hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its holdings in A10 Networks by 6.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 816 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in A10 Networks by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 61,174 shares of the communications equipment provider’s stock valued at $837,000 after purchasing an additional 973 shares during the last quarter. ProShare Advisors LLC grew its holdings in A10 Networks by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,226 shares of the communications equipment provider’s stock valued at $195,000 after purchasing an additional 984 shares during the last quarter. Swiss National Bank grew its holdings in A10 Networks by 0.8% during the 3rd quarter. Swiss National Bank now owns 154,500 shares of the communications equipment provider’s stock valued at $2,322,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Verity Asset Management Inc. grew its stake in A10 Networks by 1.7% in the 3rd quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock worth $1,378,000 after acquiring an additional 1,515 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

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.