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Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 40,000 shares of Dolby Laboratories stock on the open market in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $40.35, for a total transaction of $1,614,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Dolby Laboratories (NYSE:DLB) traded down 0.22% during mid-day trading on Wednesday, hitting $40.39. The stock had a trading volume of 457,068 shares. Dolby Laboratories has a 52 week low of $30.78 and a 52 week high of $42.00. The stock has a 50-day moving average of $39.99 and a 200-day moving average of $35.71. The company has a market cap of $4.110 billion and a price-to-earnings ratio of 22.87.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, January 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.25. The company had revenue of $231.30 million for the quarter, compared to the consensus estimate of $212.08 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.65 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on DLB shares. Analysts at TheStreet upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note to investors on Thursday, January 30th. 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 analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus 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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