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

BWS Financial reiterated their buy rating on shares of A10 Networks (NYSE:ATEN) in a report released on Wednesday morning, Benzinga reports. BWS Financial currently has a $17.00 target price on the communications equipment provider’s stock. BWS Financial also issued estimates for A10 Networks’ Q2 2024 earnings at $0.14 EPS and Q4 2024 earnings at $0.21 EPS.

Separately, Craig Hallum lifted their price objective on shares of A10 Networks from $15.00 to $16.00 and gave the company a buy rating in a research report on Wednesday.

A10 Networks Stock Performance

Shares of A10 Networks stock opened at $15.15 on Wednesday. The company has a fifty day moving average of $13.63 and a 200 day moving average of $13.00. The company has a market capitalization of $1.13 billion, a P/E ratio of 24.84 and a beta of 1.13. A10 Networks has a fifty-two week low of $10.03 and a fifty-two week high of $15.99.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $60.70 million during the quarter, compared to analyst estimates of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. Analysts forecast that A10 Networks will post 0.66 EPS for the current year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.58%. A10 Networks’s payout ratio is 39.34%.

Insider Buying and Selling

In other A10 Networks news, CEO Dhrupad Trivedi sold 60,606 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total transaction of $804,241.62. Following the completion of the transaction, the chief executive officer now owns 495,814 shares in the company, valued at approximately $6,579,451.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Dhrupad Trivedi sold 60,606 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total transaction of $804,241.62. Following the sale, the chief executive officer now owns 495,814 shares of the company’s stock, valued at $6,579,451.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian Becker sold 15,000 shares of A10 Networks stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $12.93, for a total transaction of $193,950.00. Following the completion of the transaction, the chief financial officer now directly owns 34,252 shares of the company’s stock, valued at $442,878.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,332 shares of company stock worth $1,138,273. Corporate insiders own 5.81% of the company’s stock.

Institutional Investors Weigh In On A10 Networks

Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its stake in A10 Networks by 83.9% during the fourth quarter. First Trust Advisors LP now owns 4,470,999 shares of the communications equipment provider’s stock worth $58,883,000 after buying an additional 2,040,007 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of A10 Networks by 37.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock worth $32,753,000 after purchasing an additional 676,509 shares during the period. Trigran Investments Inc. grew its holdings in A10 Networks by 41.0% during the 3rd quarter. Trigran Investments Inc. now owns 1,273,768 shares of the communications equipment provider’s stock valued at $19,145,000 after purchasing an additional 370,240 shares during the last quarter. Penserra Capital Management LLC raised its position in A10 Networks by 140.7% in the 3rd quarter. Penserra Capital Management LLC now owns 517,002 shares of the communications equipment provider’s stock worth $7,770,000 after purchasing an additional 302,203 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in A10 Networks by 93.6% in the fourth quarter. Russell Investments Group Ltd. now owns 561,155 shares of the communications equipment provider’s stock worth $7,390,000 after purchasing an additional 271,303 shares during the last quarter. 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.