BWS Financial Reaffirms “Buy” Rating for A10 Networks (NYSE:ATEN)

A10 Networks (NYSE:ATEN)‘s stock had its “buy” rating reaffirmed by stock analysts at BWS Financial in a report issued on Wednesday,Benzinga reports. They presently have a $24.00 price target on the communications equipment provider’s stock. BWS Financial’s target price would indicate a potential upside of 16.87% from the company’s previous close.

A number of other equities analysts also recently commented on the company. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Craig Hallum downgraded A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Friday, November 8th.

A10 Networks Stock Performance

Shares of NYSE ATEN opened at $20.54 on Wednesday. A10 Networks has a 1 year low of $12.27 and a 1 year high of $20.96. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 30.65 and a beta of 1.14. The stock’s 50-day simple moving average is $18.66 and its 200-day simple moving average is $15.80.

A10 Networks (NYSE:ATEN) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that A10 Networks will post 0.6 EPS for the current year.

Insider Buying and Selling

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total value of $102,905.40. Following the completion of the transaction, the executive vice president now directly owns 23,799 shares in the company, valued at $397,443.30. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.81% of the company’s stock.

Institutional Investors Weigh In On A10 Networks

A number of hedge funds have recently made changes to their positions in ATEN. Squarepoint Ops LLC bought a new stake in shares of A10 Networks during the second quarter valued at approximately $280,000. Millennium Management LLC bought a new stake in shares of A10 Networks during the second quarter valued at approximately $9,562,000. The Manufacturers Life Insurance Company raised its holdings in shares of A10 Networks by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 27,239 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 776 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of A10 Networks by 11.6% during the third quarter. Exchange Traded Concepts LLC now owns 127,476 shares of the communications equipment provider’s stock valued at $1,841,000 after buying an additional 13,272 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in shares of A10 Networks by 20.7% during the third quarter. Wedge Capital Management L L P NC now owns 94,064 shares of the communications equipment provider’s stock valued at $1,358,000 after buying an additional 16,128 shares during the last quarter. 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.