Shares of A10 Networks, Inc. (NYSE:ATEN) have received an average recommendation of “Moderate Buy” from analysts covering the stock, according to Marketbeat.com. This assessment comes from seven research firms, with three analysts suggesting a hold and four recommending a buy. The consensus twelve-month price target for A10 Networks stands at $22.00.
Analysts have recently shared insights regarding the stock. Weiss Ratings reaffirmed a “hold (C+)” rating on October 8, 2023, while Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on November 8, 2023.
Latest Earnings Report
A10 Networks released its quarterly earnings data on November 4, 2023, revealing that the communications equipment provider achieved earnings per share (EPS) of $0.23, exceeding the consensus estimate of $0.21 by $0.02. The company reported revenues of $74.68 million, surpassing analysts’ expectations of $70.70 million. This performance resulted in a return on equity of 25.87% and a net margin of 17.78%. Year-over-year, A10 Networks experienced an 11.9% increase in revenue, compared to $0.21 EPS from the same quarter last year.
Looking ahead, sell-side analysts forecast that A10 Networks will report an EPS of $0.69 for the current fiscal year.
Dividend Announcement
On December 1, 2023, A10 Networks announced a quarterly dividend, which was distributed to shareholders of record on November 17, 2023. Each shareholder received a dividend of $0.06 per share, leading to an annualized dividend of $0.24 and a yield of 1.3%. The company’s dividend payout ratio is currently 35.29%.
Institutional Investor Activity
Institutional investors have been active in modifying their stakes in A10 Networks. Vanguard Group Inc. increased its shareholding by 0.5% in the first quarter, now owning 7,394,304 shares valued at $120.82 million. Penserra Capital Management LLC boosted its holdings by 56.2% during the second quarter, acquiring an additional 1,425,792 shares, bringing its total to 3,964,989 shares valued at $76.72 million.
Other significant changes include MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., which grew its position by 1.3% in the third quarter, now holding 2,699,629 shares worth $48.99 million. Boston Trust Walden Corp increased its stake by 22.1%, and Wellington Management Group LLP lifted its position by 40.2% during the same period. Currently, institutional investors own 98.61% of A10 Networks’ stock.
About A10 Networks
Founded in 2004 and headquartered in San Jose, California, A10 Networks designs and sells networking and security solutions that enhance application performance and safeguard data across various environments, including on-premises, cloud, and hybrid setups. The company’s offerings cater to enterprises, service providers, and cloud operators seeking secure access and optimized traffic for critical applications. Its core products include application delivery controllers (ADCs), advanced distributed denial-of-service (DDoS) protection appliances, SSL inspection solutions, and carrier-grade NAT (CGNAT) platforms.
