Dolby Laboratories (NYSE:DLB) EVP Mark Andrew Sherman sold 14,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $56.25, for a total value of $787,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Dolby Laboratories (NYSE:DLB) opened at 58.29 on Friday. The firm has a market cap of $5.98 billion, a P/E ratio of 29.82 and a beta of 0.81. Dolby Laboratories has a 52-week low of $44.99 and a 52-week high of $59.79. The firm’s 50-day moving average price is $51.12 and its 200-day moving average price is $51.12.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. The business had revenue of $305.67 million during the quarter, compared to the consensus estimate of $296.88 million. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Equities research analysts expect that Dolby Laboratories will post $1.99 EPS for the current year.
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A number of research firms recently issued reports on DLB. Dougherty & Co reissued a “buy” rating and set a $63.00 target price on shares of Dolby Laboratories in a research note on Wednesday. B. Riley reissued a “buy” rating and set a $61.50 target price on shares of Dolby Laboratories in a research note on Thursday. Piper Jaffray Companies reissued a “hold” rating and set a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday. Finally, BidaskClub cut Dolby Laboratories from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $57.30.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Watermark Asset Management Inc. bought a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Dolby Laboratories by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after acquiring an additional 209 shares in the last quarter. US Bancorp DE increased its holdings in shares of Dolby Laboratories by 2.6% during the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after acquiring an additional 78 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Dolby Laboratories by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Dolby Laboratories by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock valued at $227,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 51.88% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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