Dolby Laboratories major shareholder Sells $2,864,400 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 70,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.92, for a total value of $2,864,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Dolby Laboratories (NYSE:DLB) traded down 2.04% on Monday, hitting $40.85. 578,190 shares of the company’s stock traded hands. Dolby Laboratories has a 52 week low of $29.50 and a 52 week high of $41.97. The stock has a 50-day moving average of $37.61 and a 200-day moving average of $34.8. The company has a market cap of $4.157 billion and a price-to-earnings ratio of 22.66.
Dolby Laboratories (NYSE:DLB) last announced its earnings results 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. On average, analysts predict that Dolby Laboratories will post $1.66 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on DLB shares. 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.47.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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