Shares of Dolby Laboratories, Inc. (NYSE:DLB) have been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $73.50.
Several research firms recently issued reports on DLB. TheStreet upgraded Dolby Laboratories from a “c+” rating to a “b-” rating in a report on Monday, June 15th. Barrington Research increased their target price on Dolby Laboratories from $70.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. B. Riley increased their target price on Dolby Laboratories from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Finally, Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating and set a $73.00 target price on the stock in a research note on Friday, August 7th.
In other news, SVP Giles Baker sold 8,334 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $70.28, for a total transaction of $585,713.52. Also, SVP Steven E. Forshay sold 4,167 shares of Dolby Laboratories stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $69.50, for a total value of $289,606.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,161 shares of company stock worth $8,972,869. 38.17% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd raised its position in Dolby Laboratories by 57.0% in the 2nd quarter. Quadrature Capital Ltd now owns 11,150 shares of the electronics maker’s stock valued at $735,000 after buying an additional 4,050 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in Dolby Laboratories in the 2nd quarter valued at approximately $851,000. Aurora Investment Counsel acquired a new stake in Dolby Laboratories in the 2nd quarter valued at approximately $722,000. Charles Schwab Investment Management Inc. raised its position in Dolby Laboratories by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 540,710 shares of the electronics maker’s stock valued at $35,617,000 after buying an additional 4,042 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Dolby Laboratories by 84.7% in the 2nd quarter. AQR Capital Management LLC now owns 110,573 shares of the electronics maker’s stock valued at $7,283,000 after buying an additional 50,691 shares during the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.
Dolby Laboratories stock traded down $1.41 during mid-day trading on Tuesday, hitting $66.43. The stock had a trading volume of 584,485 shares, compared to its average volume of 387,233. The stock has a 50-day simple moving average of $69.24 and a two-hundred day simple moving average of $63.11. The stock has a market capitalization of $6.68 billion, a PE ratio of 27.45, a P/E/G ratio of 2.36 and a beta of 0.84. Dolby Laboratories has a 12 month low of $44.68 and a 12 month high of $73.94.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Monday, August 3rd. The electronics maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.73. The business had revenue of $246.91 million for the quarter, compared to analysts’ expectations of $232.61 million. Dolby Laboratories had a return on equity of 10.67% and a net margin of 20.89%. The firm’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. Research analysts forecast that Dolby Laboratories will post 2.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, August 14th. Dolby Laboratories’s dividend payout ratio is currently 36.07%.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
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