Dolby Laboratories major shareholder Sells $1,790,000 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 40,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $44.75, for a total transaction of $1,790,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Dolby Laboratories (NYSE:DLB) traded up 1.45% during mid-day trading on Wednesday, hitting $45.48. 400,649 shares of the company’s stock traded hands. Dolby Laboratories has a 1-year low of $31.19 and a 1-year high of $45.85. The stock has a 50-day moving average of $43.79 and a 200-day moving average of $42.49. The company has a market cap of $4.645 billion and a P/E ratio of 22.40.
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.
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, July 30th. 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. Finally, analysts at B. Riley initiated coverage on shares of Dolby Laboratories in a research note on Tuesday, July 1st. They set a “neutral” rating and a $41.00 price target on the stock.
Dolby Laboratories, Inc designs and manufactures video and audio products for the film production, cinema, and television broadcast industries.
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