Dolby Laboratories (NYSE:DLB) Receives $90.75 Average Target Price from Analysts

Dolby Laboratories (NYSE:DLB) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $90.75.

Several equities research analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Dolby Laboratories in a research note on Friday, January 30th. Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Finally, Barrington Research dropped their price objective on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th.

Insider Transactions at Dolby Laboratories

In related news, SVP Shriram Revankar sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total transaction of $198,420.00. Following the completion of the sale, the senior vice president directly owned 83,218 shares of the company’s stock, valued at approximately $5,504,038.52. This represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ryan Nicholson sold 2,667 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $66.38, for a total transaction of $177,035.46. Following the sale, the chief accounting officer owned 36,956 shares in the company, valued at $2,453,139.28. This trade represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 37.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. First Horizon Corp bought a new stake in shares of Dolby Laboratories during the third quarter worth $25,000. Hantz Financial Services Inc. lifted its position in Dolby Laboratories by 166.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Mather Group LLC. acquired a new position in Dolby Laboratories in the 3rd quarter worth $38,000. Rothschild Investment LLC boosted its stake in Dolby Laboratories by 4,046.7% in the 3rd quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 607 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Dolby Laboratories during the 3rd quarter worth about $50,000. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Trading Down 1.1%

Shares of DLB opened at $58.06 on Wednesday. The stock has a market cap of $5.55 billion, a P/E ratio of 23.41 and a beta of 0.84. Dolby Laboratories has a 1 year low of $57.62 and a 1 year high of $81.63. The stock’s 50-day moving average price is $63.32 and its two-hundred day moving average price is $66.07.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $346.71 million during the quarter, compared to analysts’ expectations of $341.26 million. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.Dolby Laboratories’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. As a group, equities analysts forecast that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.5%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 58.06%.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.