Fintel reports that on October 5, 2023, BWS Financial reiterated coverage of A10 Networks (NYSE:ATEN) with a Buy recommendation.
Analyst Price Forecast Suggests 62.61% Upside
As of October 5, 2023, the average one-year price target for A10 Networks is 18.70. The forecasts range from a low of 15.15 to a high of $25.20. The average price target represents an increase of 62.61% from its latest reported closing price of 11.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for A10 Networks is 314MM, an increase of 14.87%. The projected annual non-GAAP EPS is 0.85.
A10 Networks Declares $0.06 Dividend
On July 26, 2023 the company declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Shareholders of record as of August 15, 2023 received the payment on September 1, 2023. Previously, the company paid $0.06 per share.
At the current share price of $11.50 / share, the stock's dividend yield is 2.09%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.56%, the lowest has been 1.18%, and the highest has been 6.19%. The standard deviation of yields is 1.02 (n=236).
The current dividend yield is 0.46 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 492 funds or institutions reporting positions in A10 Networks. This is a decrease of 35 owner(s) or 6.64% in the last quarter. Average portfolio weight of all funds dedicated to ATEN is 0.16%, a decrease of 5.74%. Total shares owned by institutions increased in the last three months by 1.22% to 74,026K shares. 
The put/call ratio of ATEN is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,509K shares representing 6.08% ownership of the company. In it's prior filing, the firm reported owning 4,678K shares, representing a decrease of 3.75%. The firm decreased its portfolio allocation in ATEN by 12.08% over the last quarter.
Summit Partners L P holds 3,888K shares representing 5.25% ownership of the company. In it's prior filing, the firm reported owning 3,878K shares, representing an increase of 0.27%. The firm decreased its portfolio allocation in ATEN by 5.31% over the last quarter.
Alliancebernstein holds 2,773K shares representing 3.74% ownership of the company. In it's prior filing, the firm reported owning 2,414K shares, representing an increase of 12.95%. The firm increased its portfolio allocation in ATEN by 3.13% over the last quarter.
Renaissance Technologies holds 2,504K shares representing 3.38% ownership of the company. In it's prior filing, the firm reported owning 2,487K shares, representing an increase of 0.68%. The firm increased its portfolio allocation in ATEN by 2.99% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,174K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 2,124K shares, representing an increase of 2.32%. The firm decreased its portfolio allocation in ATEN by 11.03% over the last quarter.
A10 Networks Background Information
(This description is provided by the company.)
A10 Networks provides secure application services and solutions for on-premises, multi-cloud and edge-cloud environments at hyperscale. A10 Networks mission is to enable service providers and enterprises to deliver business-critical applications that are secure, available and efficient for multi-cloud transformation and 5G readiness. The Company delivers better business outcomes that support investment protection, new business models and help future-proof infrastructures, empowering its customers to provide the most secure and available digital experience. Founded in 2004, A10 Networks is based in San Jose, Calif. and serves customers globally.
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This story originally appeared on Fintel.
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