Insider Selling: Dolby Laboratories Director Unloads 1,774 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) Director Roger S. Siboni unloaded 1,774 shares of Dolby Laboratories stock on the open market in a transaction dated Thursday, May 8th. The stock was sold at an average price of $39.14, for a total transaction of $69,434.36. Following the completion of the sale, the director now directly owns 7,411 shares in the company, valued at approximately $290,067. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.47.
Dolby Laboratories (NYSE:DLB) traded up 2.06% on Monday, hitting $40.06. 929,750 shares of the company’s stock traded hands. Dolby Laboratories has a one year low of $31.00 and a one year high of $45.16. The stock has a 50-day moving average of $42.56 and a 200-day moving average of $40.10. The company has a market cap of $4.109 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 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.74 earnings per share. Dolby Laboratories’s revenue was up 11.8% compared to the same quarter last year. 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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