Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) SVP John D. Couling sold 500 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $72.61, for a total transaction of $36,305.00. Following the completion of the transaction, the senior vice president now owns 80,172 shares in the company, valued at $5,821,288.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of DLB stock opened at $73.40 on Friday. The stock has a market capitalization of $7.47 billion, a P/E ratio of 35.46, a PEG ratio of 1.65 and a beta of 0.99. The firm’s 50 day moving average is $75.68 and its 200 day moving average is $82.85. Dolby Laboratories, Inc. has a 12 month low of $69.18 and a 12 month high of $104.25.
Dolby Laboratories (NYSE:DLB – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The electronics maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.34. The company had revenue of $334.37 million for the quarter, compared to analysts’ expectations of $332.51 million. Dolby Laboratories had a net margin of 17.14% and a return on equity of 9.72%. Dolby Laboratories’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. On average, sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.73 EPS for the current fiscal year.
A number of research firms have weighed in on DLB. StockNews.com cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday. Barrington Research dropped their target price on shares of Dolby Laboratories from $115.00 to $90.00 in a research note on Thursday. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating and set a $76.00 target price on the stock in a research note on Monday, March 7th. Finally, TheStreet upgraded shares of Dolby Laboratories from a “c+” rating to a “b-” rating in a research note on Friday, April 22nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $83.00.
Several hedge funds have recently made changes to their positions in DLB. Norges Bank purchased a new stake in shares of Dolby Laboratories during the 4th quarter valued at approximately $55,937,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Dolby Laboratories by 86.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,137,095 shares of the electronics maker’s stock worth $108,274,000 after acquiring an additional 526,811 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Dolby Laboratories during the 3rd quarter worth approximately $33,334,000. Schroder Investment Management Group increased its holdings in Dolby Laboratories by 60.5% during the 4th quarter. Schroder Investment Management Group now owns 971,831 shares of the electronics maker’s stock worth $92,538,000 after acquiring an additional 366,304 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Dolby Laboratories by 35.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,308,241 shares of the electronics maker’s stock worth $115,128,000 after acquiring an additional 339,994 shares during the period. Institutional investors own 59.34% of the company’s stock.
Dolby Laboratories Company Profile (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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