A10 Networks, Inc. (NYSE:ATEN) has recently declared a highly anticipated quarterly dividend, according to reports by the Wall Street Journal published on May 5th of this year. Shareholders of record on Monday, May 15th will eagerly await the delivery of their dividend in the form of $0.06 per share from the communication equipment provider on Thursday, June 1st. With this announcement, investors have much to look forward to as the annualized dividend payout stands at $0.24 with a sizeable yield of 1.74%.
Taking into consideration the last quarterly earnings data that was released on February 7th of this year, where it was reported that A10 Networks surpassed analysts’ target estimates with an EPS of $0.20 for the quarter compared to market estimates of $0.19; excitement rings true amongst investors and shareholders alike.
Notably contributing to these developments is recent research reports regarding ATEN’s performance including StockNews.com which downgraded A10 Networks from a “strong-buy” rating to a “buy” rating report released on April 12th and BTIG Research who initiated coverage with a “neutral” rating just four days earlier.
Many analysts are confidently predicting an impressive post-performance outlook for A10 Networks in light of all these developments placing expectations with regards to earnings per share (EPS) for current year ending in sight at approximately 0.63 EPS.
All these factors culminating into possibly an exciting little adventure starting June 1st when the company distributes its highly-anticipated dividend! Don’t forget that the dividend payment date is dependent upon shareholders owning ATEN shares on or before May 15th and even though this Date has passed before your reading don’t miss out as such announcements typically positively contribute to stock trading post payment date!
A10 Networks Dividend Payout Ratio and Insider Confidence Boost Investor Sentiment
May 7, 2023 – A10 Networks (NYSE: ATEN) has been making waves among investors recently due to its dividend payout ratio of 26.4%, indicating that the company’s dividend is sufficiently covered by earnings. At present, the shares trade at $13.76 following Friday’s trading session, down $0.22 against its average volume of 616,229 shares.
A10 Networks market capitalization currently stands at $1.02 billion with a PE ratio of 22.92 and a beta of 1.04. The firm experienced a high of $19.79 in the last 52 weeks, while the low was recorded as $12.61 over that period.
Recent research reports by StockNews.com downgraded A10 Networks from a “strong-buy” rating to a “buy” rating in mid-April, but BTIG Research initiated coverage on A10 shares described them as “neutral”.
In other news surrounding A10 Networks, Executive Vice President Matthew P Bruening sold 3,294 shares of the stock on Monday, March 13th at an average price of $14.37 per share amounting to a total value of $47,334.78 before disclosing this transaction with SEC subsequently.
CEO Dhrupad Trivedi also reportedly sold off his stake; selling around 20,965 shares for roughly $301k netting him close to approximately $8 million.
Insiders have clearly shown confidence in recent days by investing large sums – pushing their holdings ever higher which may provide some support for the share price moving forward.
Despite negative reports from analysts earlier this year concerning company long-term outlooks, several hedge funds and institutional investors added positions in Q4/2022 with Price T Rowe Associates Inc adding shares worth c.$14m during last November’s trading session while BlackRock Inc grew its stake by c..1m netting c.$151m.
Others increased sentiment surrounding A10 Networks with Wells Fargo and Allianz Asset also pouring significant funds into the stock towards year end resulting in a total of 88.86% ownership of institutional investors at present. Whether this recent turn of events will change analysts’ opinions regarding A10 remains to be seen, as it appears that events may have taken a favorable twist for the firm in the short term.
