Dolby Laboratories, Inc. (NYSE:DLB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Dolby Laboratories, Inc. (NYSE:DLBGet Rating) have received an average recommendation of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $83.00.

A number of analysts have recently weighed in on DLB shares. StockNews.com cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. Rosenblatt Securities assumed coverage on Dolby Laboratories in a research report on Monday. They set a “buy” rating for the company. Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating and set a $76.00 price target for the company in a research report on Monday, March 7th. TheStreet raised Dolby Laboratories from a “c+” rating to a “b-” rating in a research report on Friday, April 22nd. Finally, Barrington Research reduced their price objective on Dolby Laboratories from $115.00 to $90.00 in a research note on Thursday, May 12th.

In other Dolby Laboratories news, CMO Todd Pendleton sold 45,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $75.39, for a total transaction of $3,452,862.00. Following the completion of the sale, the chief marketing officer now directly owns 37,788 shares in the company, valued at approximately $2,848,837.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John D. Couling sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $72.61, for a total value of $36,305.00. Following the sale, the senior vice president now owns 80,172 shares of the company’s stock, valued at $5,821,288.92. The disclosure for this sale can be found here. 37.06% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of Dolby Laboratories by 53.1% during the 3rd quarter. SG Americas Securities LLC now owns 2,058 shares of the electronics maker’s stock worth $181,000 after purchasing an additional 714 shares during the last quarter. Barclays PLC lifted its holdings in Dolby Laboratories by 896.8% in the third quarter. Barclays PLC now owns 29,166 shares of the electronics maker’s stock valued at $2,566,000 after acquiring an additional 26,240 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Dolby Laboratories by 22.5% in the third quarter. Teacher Retirement System of Texas now owns 10,386 shares of the electronics maker’s stock valued at $914,000 after acquiring an additional 1,910 shares during the last quarter. American Century Companies Inc. lifted its holdings in Dolby Laboratories by 14.0% in the third quarter. American Century Companies Inc. now owns 4,622 shares of the electronics maker’s stock valued at $407,000 after acquiring an additional 568 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in Dolby Laboratories by 14.4% in the third quarter. First Republic Investment Management Inc. now owns 7,907 shares of the electronics maker’s stock valued at $696,000 after acquiring an additional 993 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

NYSE DLB traded up $0.23 during midday trading on Monday, hitting $75.34. 997,191 shares of the company traded hands, compared to its average volume of 551,679. The company has a market cap of $7.60 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99. The company’s 50-day simple moving average is $76.24 and its 200-day simple moving average is $82.05. Dolby Laboratories has a 52 week low of $69.18 and a 52 week high of $104.25.

Dolby Laboratories (NYSE:DLBGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $334.37 million during the quarter, compared to analysts’ expectations of $332.51 million. Dolby Laboratories had a return on equity of 9.72% and a net margin of 17.14%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. As a group, research analysts anticipate that Dolby Laboratories will post 2.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Tuesday, May 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Dolby Laboratories’s dividend payout ratio is presently 48.31%.

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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