Craig Hallum Forecasts Strong Price Appreciation for A10 Networks (NYSE:ATEN) Stock

A10 Networks (NYSE:ATEN) had its target price hoisted by stock analysts at Craig Hallum from $16.00 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the communications equipment provider’s stock. Craig Hallum’s target price would indicate a potential downside of 12.35% from the stock’s previous close.

Several other analysts have also issued reports on ATEN. StockNews.com raised A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of A10 Networks in a research note on Wednesday.

A10 Networks Stock Performance

NYSE ATEN opened at $20.54 on Wednesday. A10 Networks has a one year low of $12.27 and a one year high of $20.96. The stock has a 50-day moving average of $18.66 and a 200 day moving average of $15.80. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 30.65 and a beta of 1.14.

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, topping analysts’ consensus estimates of $0.22 by $0.03. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. On average, equities analysts predict that A10 Networks will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at A10 Networks

In other news, EVP Karen S. Thomas sold 6,162 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On A10 Networks

Several large investors have recently modified their holdings of the stock. Guidance Capital Inc. raised its position in A10 Networks by 2.0% during the 3rd quarter. Guidance Capital Inc. now owns 36,355 shares of the communications equipment provider’s stock valued at $530,000 after purchasing an additional 718 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of A10 Networks by 43.5% during the fourth quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider’s stock valued at $45,000 after buying an additional 744 shares during the period. Martingale Asset Management L P raised its holdings in shares of A10 Networks by 0.8% in the third quarter. Martingale Asset Management L P now owns 101,051 shares of the communications equipment provider’s stock valued at $1,459,000 after acquiring an additional 770 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in A10 Networks by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 27,239 shares of the communications equipment provider’s stock worth $377,000 after acquiring an additional 776 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in A10 Networks by 1.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 54,664 shares of the communications equipment provider’s stock worth $789,000 after acquiring an additional 814 shares in the last quarter. Institutional investors 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.