Dolby Laboratories (NYSE:DLB) Raised to B- at TheStreet

Dolby Laboratories (NYSE:DLBGet Rating) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Friday, TheStreetRatingsTable reports.

Several other research analysts also recently commented on DLB. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Monday, March 7th. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 15th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Dolby Laboratories currently has an average rating of “Buy” and a consensus price target of $95.00.

Shares of DLB stock opened at $77.57 on Friday. The stock has a market cap of $7.90 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06. The stock has a 50 day simple moving average of $75.51 and a 200 day simple moving average of $83.92. Dolby Laboratories has a 1 year low of $69.18 and a 1 year high of $104.74.

Dolby Laboratories (NYSE:DLBGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.05). The company had revenue of $351.63 million during the quarter, compared to the consensus estimate of $364.12 million. Dolby Laboratories had a net margin of 20.52% and a return on equity of 9.86%. On average, equities research analysts predict that Dolby Laboratories will post 2.87 earnings per share for the current fiscal year.

In other news, Director Avadis Tevanian sold 1,331 shares of the company’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $75.31, for a total transaction of $100,237.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 1,798 shares of the company’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $77.23, for a total transaction of $138,859.54. The disclosure for this sale can be found here. 37.06% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Icon Wealth Partners LLC grew its stake in shares of Dolby Laboratories by 4.0% in the fourth quarter. Icon Wealth Partners LLC now owns 2,941 shares of the electronics maker’s stock worth $280,000 after purchasing an additional 112 shares during the last quarter. Signaturefd LLC grew its stake in shares of Dolby Laboratories by 6.9% in the fourth quarter. Signaturefd LLC now owns 2,068 shares of the electronics maker’s stock worth $197,000 after purchasing an additional 133 shares during the last quarter. National Asset Management Inc. grew its stake in shares of Dolby Laboratories by 4.0% in the third quarter. National Asset Management Inc. now owns 3,916 shares of the electronics maker’s stock worth $345,000 after purchasing an additional 151 shares during the last quarter. Column Capital Advisors LLC grew its stake in shares of Dolby Laboratories by 28.8% in the fourth quarter. Column Capital Advisors LLC now owns 1,217 shares of the electronics maker’s stock worth $116,000 after purchasing an additional 272 shares during the last quarter. Finally, Cadent Capital Advisors LLC grew its stake in shares of Dolby Laboratories by 10.7% in the fourth quarter. Cadent Capital Advisors LLC now owns 3,001 shares of the electronics maker’s stock worth $286,000 after purchasing an additional 291 shares during the last quarter. 56.84% of the stock is currently owned by institutional investors.

About Dolby Laboratories (Get Rating)

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications.; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, an digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

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