Share on StockTwits

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

Shares of Dolby Laboratories (NYSE:DLB) traded up 0.13% on Friday, hitting $45.63. 235,522 shares of the company’s stock traded hands. Dolby Laboratories has a one year low of $31.19 and a one year high of $45.97. The stock has a 50-day moving average of $43.98 and a 200-day moving average of $42.55. The company has a market cap of $4.660 billion and a price-to-earnings ratio of 22.77.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results 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. On average, analysts predict that Dolby Laboratories will post $1.86 earnings per share 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.