Dolby Laboratories (NYSE:DLB) Cut to Hold at StockNews.com

Dolby Laboratories (NYSE:DLBGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

DLB has been the topic of several other research reports. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a report on Monday, March 7th. TheStreet upgraded shares of Dolby Laboratories from a “c+” rating to a “b-” rating in a report on Friday, April 22nd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $95.00.

Shares of NYSE DLB opened at $72.34 on Thursday. The firm’s 50-day moving average price is $75.68 and its 200-day moving average price is $82.85. Dolby Laboratories has a 1-year low of $69.18 and a 1-year high of $104.25. The firm has a market capitalization of $7.37 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.56 and a beta of 0.99.

Dolby Laboratories (NYSE:DLBGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The electronics maker reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.34. Dolby Laboratories had a net margin of 17.14% and a return on equity of 9.70%. The firm had revenue of $334.37 million for the quarter, compared to analyst estimates of $332.51 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that Dolby Laboratories will post 2.87 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Dolby Laboratories during the fourth quarter worth about $30,000. GHP Investment Advisors Inc. bought a new stake in shares of Dolby Laboratories during the first quarter worth about $31,000. Consolidated Planning Corp bought a new stake in Dolby Laboratories in the 3rd quarter worth about $35,000. Zullo Investment Group Inc. bought a new stake in Dolby Laboratories in the 4th quarter worth about $39,000. Finally, Eagle Bay Advisors LLC grew its position in Dolby Laboratories by 1,963.6% in the 3rd quarter. Eagle Bay Advisors LLC now owns 454 shares of the electronics maker’s stock worth $40,000 after purchasing an additional 432 shares in the last quarter. 59.34% of the stock is 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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