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Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 70,000 shares of Dolby Laboratories stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $41.19, for a total transaction of $2,883,300.00. 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 stock are required to disclose their sales and purchases with the SEC.

Shares of Dolby Laboratories (NYSE:DLB) traded down 0.22% on Friday, hitting $40.60. 408,959 shares of the company’s stock traded hands. Dolby Laboratories has a 52 week low of $30.42 and a 52 week high of $41.97. The stock’s 50-day moving average is $38.34 and its 200-day moving average is $35.10. The company has a market cap of $4.132 billion and a price-to-earnings ratio of 22.11.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $0.61 earnings per share. Dolby Laboratories’s revenue was down 4.0% compared to the same quarter last year. Analysts expect that Dolby Laboratories will post $1.66 EPS 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. The stock presently has a consensus rating of “Hold” and an average target price of $35.47.

Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.

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