Analysts Set Dolby Laboratories (NYSE:DLB) Target Price at $90.75

Shares of Dolby Laboratories (NYSE:DLB) have received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities 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 objective among brokerages that have covered the stock in the last year is $90.75.

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

Insider Buying and Selling

In related news, SVP John D. Couling sold 7,273 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $68.75, for a total value of $500,018.75. Following the completion of the sale, the senior vice president directly owned 108,065 shares of the company’s stock, valued at approximately $7,429,468.75. This represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 9,109 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $66.73, for a total transaction of $607,843.57. Following the transaction, the executive vice president directly owned 73,054 shares in the company, valued at $4,874,893.42. This represents a 11.09% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 137,120 shares of company stock valued at $9,184,809. Insiders own 37.93% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Corp bought a new position in shares of Dolby Laboratories during the third quarter worth $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Dolby Laboratories by 166.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Dolby Laboratories by 590.4% during the 2nd quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 431 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Dolby Laboratories during the third quarter valued at about $38,000. Finally, Rothschild Investment LLC increased its holdings in shares of Dolby Laboratories by 4,046.7% in the third 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 last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

DLB stock opened at $63.95 on Tuesday. Dolby Laboratories has a 1 year low of $60.14 and a 1 year high of $85.45. The company has a market cap of $6.11 billion, a P/E ratio of 25.79 and a beta of 0.86. The stock’s fifty day moving average price is $64.79 and its 200-day moving average price is $68.55.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data 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 for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 10th. Dolby Laboratories’s payout ratio is presently 58.06%.

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.