Dolby Laboratories Major Shareholder Unloads $2,826,600 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 70,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $40.38, for a total transaction of $2,826,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Dolby Laboratories (NYSE:DLB) traded up 0.37% during mid-day trading on Thursday, hitting $40.86. 557,111 shares of the company’s stock traded hands. Dolby Laboratories has a one year low of $29.50 and a one year high of $41.49. The stock’s 50-day moving average is $37.24 and its 200-day moving average is $34.72. The company has a market cap of $4.158 billion and a P/E ratio of 22.12.
Dolby Laboratories (NYSE:DLB) last released its earnings data on Tuesday, October 29th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.24. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.12 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts expect that Dolby Laboratories will post $1.66 EPS for the current fiscal year.
A number of research firms have recently commented on DLB. Analysts at Zacks upgraded shares of Dolby Laboratories from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 31st. They now have a $39.40 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Dolby Laboratories presently has a consensus rating of “Hold” and an average price target of $35.47.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.