Dolby Laboratories major shareholder Unloads $1,583,840 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 35,173 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $45.03, for a total value of $1,583,840.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of research firms have recently commented on DLB. Analysts at Zacks downgraded shares of Dolby Laboratories from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $48.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Dolby Laboratories in a research note on Friday, July 25th. They now have a $43.00 price target on the stock, up previously from $38.00.
Dolby Laboratories (NYSE:DLB) traded down 0.65% during mid-day trading on Thursday, hitting $44.64. 430,966 shares of the company’s stock traded hands. Dolby Laboratories has a 52 week low of $31.19 and a 52 week high of $45.83. The stock’s 50-day moving average is $43.17 and its 200-day moving average is $42.25. The company has a market cap of $4.569 billion and a P/E ratio of 22.45.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. The company had revenue of $223.40 million for the quarter, compared to the consensus estimate of $210.23 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.86 earnings per share for the current fiscal year.
Dolby Laboratories, Inc designs and manufactures video and audio products for the film production, cinema, and television broadcast industries.
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