Dolby Laboratories Director Unloads $187,038 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) Director Avadis Tevanian sold 4,655 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.18, for a total transaction of $187,037.90. Following the completion of the transaction, the director now directly owns 7,411 shares of the company’s stock, valued at approximately $297,774. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 research 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 has an average rating of “Hold” and a consensus target price of $35.47.
Shares of Dolby Laboratories (NYSE:DLB) traded up 0.89% during mid-day trading on Thursday, hitting $40.75. 361,904 shares of the company’s stock traded hands. 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 $4.146 billion and a price-to-earnings ratio of 22.82.
Dolby Laboratories (NYSE:DLB) last released its earnings data on Thursday, January 23rd. The company reported $0.59 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.64 earnings per share. Dolby Laboratories’s revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that Dolby Laboratories will post $1.65 earnings per share for the current fiscal year.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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