Dolby Laboratories (NYSE:DLB) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research report report published on Monday morning,Benzinga reports. They currently have a $90.00 price objective on the electronics maker’s stock.

A number of other research firms have also weighed in on DLB. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a report on Friday, March 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a report on Friday, January 30th. Finally, Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.75.

Dolby Laboratories Stock Down 0.6%

DLB stock opened at $63.71 on Monday. The firm has a market capitalization of $6.09 billion, a PE ratio of 25.69 and a beta of 0.86. Dolby Laboratories has a twelve month low of $57.62 and a twelve month high of $78.28. The stock has a 50-day simple moving average of $62.63 and a two-hundred day simple moving average of $64.60.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $346.71 million during the quarter, compared to analyst estimates of $341.26 million. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. On average, equities research analysts anticipate that Dolby Laboratories will post 3.18 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were given a $0.36 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.3%. Dolby Laboratories’s payout ratio is presently 58.06%.

Insider Buying and Selling

In related news, CAO Ryan Nicholson sold 2,667 shares of the business’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 value of $177,035.46. Following the completion of the sale, the chief accounting officer owned 36,956 shares in the company, valued at $2,453,139.28. The trade was a 6.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Shriram Revankar sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the sale, the senior vice president owned 83,218 shares of the company’s stock, valued at $5,504,038.52. The trade was a 3.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 37.93% of the company’s stock.

Institutional Trading of Dolby Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boothbay Fund Management LLC grew its stake in shares of Dolby Laboratories by 4.1% in the second quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker’s stock worth $299,000 after acquiring an additional 157 shares during the last quarter. Covestor Ltd raised its position in shares of Dolby Laboratories by 6.0% in the 4th quarter. Covestor Ltd now owns 3,088 shares of the electronics maker’s stock worth $198,000 after purchasing an additional 175 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Dolby Laboratories by 34.7% in the 4th quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock worth $48,000 after purchasing an additional 192 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Dolby Laboratories by 0.4% in the 3rd quarter. Gabelli Funds LLC now owns 49,143 shares of the electronics maker’s stock worth $3,556,000 after purchasing an additional 202 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Dolby Laboratories by 166.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

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.