A10 Networks (NYSE:ATEN) Reaches New 52-Week High – Still a Buy?

A10 Networks, Inc. (NYSE:ATEN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.93 and last traded at $16.89, with a volume of 350131 shares changing hands. The stock had previously closed at $16.49.

Wall Street Analyst Weigh In

ATEN has been the topic of a number of analyst reports. StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Craig Hallum downgraded A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Friday, November 8th. Finally, BWS Financial raised their price objective on A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

A10 Networks Stock Up 1.1 %

The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 25.56 and a beta of 1.11. The business’s 50 day simple moving average is $15.06 and its 200-day simple moving average is $14.28.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The business had revenue of $66.72 million for the quarter, compared to analyst estimates of $63.78 million. During the same quarter last year, the business posted $0.12 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts expect that A10 Networks, Inc. will post 0.6 earnings per share for the current year.

A10 Networks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, November 18th. A10 Networks’s dividend payout ratio (DPR) is presently 35.82%.

Insiders Place Their Bets

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of the firm’s stock in a transaction that occurred on 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 owns 23,799 shares in the company, valued at $397,443.30. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in A10 Networks by 43,184.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,728,336 shares of the communications equipment provider’s stock worth $23,937,000 after purchasing an additional 1,724,343 shares in the last quarter. Millennium Management LLC bought a new stake in shares of A10 Networks during the second quarter worth about $9,562,000. Harbor Capital Advisors Inc. increased its stake in shares of A10 Networks by 175.0% in the third quarter. Harbor Capital Advisors Inc. now owns 795,628 shares of the communications equipment provider’s stock valued at $11,489,000 after buying an additional 506,332 shares during the period. Assenagon Asset Management S.A. raised its holdings in A10 Networks by 48.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 946,894 shares of the communications equipment provider’s stock valued at $13,114,000 after buying an additional 308,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in A10 Networks during the 2nd quarter worth approximately $4,058,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

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.