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Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 40,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $41.23, for a total value of $1,649,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Dolby Laboratories (NYSE:DLB) traded up 1.05% on Thursday, hitting $41.52. The stock had a trading volume of 534,728 shares. Dolby Laboratories has a 1-year low of $30.88 and a 1-year high of $42.00. The stock has a 50-day moving average of $40.45 and a 200-day moving average of $35.97. The company has a market cap of $4.241 billion and a P/E ratio of 23.21.

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 on Thursday, January 30th. Analysts at Zacks upgraded shares of Dolby Laboratories from an “underperform” rating to a “neutral” rating in a research note 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 assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average 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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