Dolby Laboratories CEO Sells $285,843 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) CEO Kevin J. Yeaman sold 6,399 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $44.67, for a total transaction of $285,843.33. Following the sale, the chief executive officer now directly owns 181,072 shares of the company’s stock, valued at approximately $8,088,486. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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) opened at 45.63 on Monday. Dolby Laboratories has a 52-week low of $31.19 and a 52-week 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 P/E ratio of 22.80.
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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