Insider Selling: Roger S. Siboni Unloads 12,500 Shares of Dolby Laboratories Stock (DLB)
Dolby Laboratories (NYSE:DLB) Director Roger S. Siboni unloaded 12,500 shares of the stock on the open market in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $39.18, for a total value of $489,750.00. Following the transaction, the director now directly owns 7,411 shares of the company’s stock, valued at approximately $290,363. The sale was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Dolby Laboratories in a research note on Wednesday, April 30th. They now have a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.47.
Dolby Laboratories (NYSE:DLB) traded down 0.54% during mid-day trading on Tuesday, hitting $39.04. 507,422 shares of the company’s stock traded hands. Dolby Laboratories has a 52-week low of $31.00 and a 52-week high of $45.16. The stock’s 50-day moving average is $43.16 and its 200-day moving average is $39.99. The company has a market cap of $3.993 billion and a price-to-earnings ratio of 20.65.
Dolby Laboratories (NYSE:DLB) last released its earnings data on Tuesday, April 29th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.38. The company had revenue of $278.60 million for the quarter, compared to the consensus estimate of $244.77 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.76 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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