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Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 80,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The shares were sold at an average price of $45.60, for a total transaction of $3,648,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

DLB has been the subject of a number of recent research reports. 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.

Shares of Dolby Laboratories (NYSE:DLB) traded up 0.13% during mid-day trading on Friday, hitting $45.63. 235,522 shares of the company’s stock traded hands. Dolby Laboratories has a 52 week low of $31.19 and a 52 week high of $45.93. The stock’s 50-day moving average is $43.88 and its 200-day moving average is $42.5. The company has a market cap of $4.660 billion and a P/E ratio of 22.77.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Dolby Laboratories will post $1.86 EPS 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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