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Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $40.48, for a total value of $1,619,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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 equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Dolby Laboratories has a consensus rating of “Hold” and an average price target of $35.47.

Dolby Laboratories (NYSE:DLB) traded up 0.54% on Friday, hitting $40.97. 339,859 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 $40.09 and a 200-day moving average of $35.74. The company has a market cap of $4.169 billion and a price-to-earnings ratio of 23.02.

Dolby Laboratories (NYSE:DLB) last posted its quarterly 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.

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

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