Insider Selling: Dolby Laboratories SVP Unloads 1,347 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) SVP Michael Bergeron sold 1,347 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $45.67, for a total transaction of $61,517.49. Following the completion of the transaction, the senior vice president now directly owns 54,833 shares of the company’s stock, valued at approximately $2,504,223. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Dolby Laboratories (NYSE:DLB) traded up 0.20% on Thursday, hitting $45.57. 216,476 shares of the company’s stock traded hands. Dolby Laboratories has a one year low of $31.19 and a one 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 $4.654 billion and a P/E ratio of 22.73.
Dolby Laboratories (NYSE:DLB) last released its earnings data on Thursday, July 24th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.47 earnings per share. Dolby Laboratories’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Dolby Laboratories will post $1.86 EPS for the current fiscal year.
A number of analysts have recently weighed in on DLB shares. 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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