Dolby Laboratories (NYSE:DLB) Stock Rating Lowered by Barrington Research

Dolby Laboratories (NYSE:DLBGet Rating) was downgraded by equities researchers at Barrington Research from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, MarketBeat reports.

A number of other brokerages have also weighed in on DLB. StockNews.com began coverage on Dolby Laboratories in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Tigress Financial cut their price objective on Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating for the company in a research report on Friday, October 14th. Finally, Rosenblatt Securities dropped their price target on Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, November 7th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.00.

Dolby Laboratories Stock Down 1.0 %

Shares of Dolby Laboratories stock opened at $69.07 on Friday. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 1.59 and a beta of 0.97. The business has a 50-day moving average price of $67.83 and a 200-day moving average price of $72.52. Dolby Laboratories has a twelve month low of $61.55 and a twelve month high of $96.85.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $66.02, for a total transaction of $3,301,000.00. Following the completion of the transaction, the senior vice president now owns 79,235 shares in the company, valued at $5,231,094.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DLB. Vanguard Group Inc. raised its stake in shares of Dolby Laboratories by 1.6% during the first quarter. Vanguard Group Inc. now owns 6,257,157 shares of the electronics maker’s stock valued at $489,435,000 after acquiring an additional 99,453 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Dolby Laboratories by 116.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,052,837 shares of the electronics maker’s stock valued at $290,021,000 after acquiring an additional 2,183,842 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Dolby Laboratories by 61.4% during the first quarter. Ninety One UK Ltd now owns 2,722,534 shares of the electronics maker’s stock valued at $212,957,000 after acquiring an additional 1,036,041 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Dolby Laboratories by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 1,778,339 shares of the electronics maker’s stock valued at $139,101,000 after acquiring an additional 144,335 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of Dolby Laboratories by 5.4% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,550,307 shares of the electronics maker’s stock valued at $121,265,000 after acquiring an additional 79,257 shares in the last quarter. Hedge funds and other institutional investors own 59.13% of the company’s stock.

About Dolby Laboratories

(Get Rating)

Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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