Dolby Laboratories EVP Michael J. Rockwell Unloads 4,096 Shares (DLB)
Dolby Laboratories (NYSE:DLB) EVP Michael J. Rockwell sold 4,096 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $44.67, for a total value of $182,968.32. Following the sale, the executive vice president now directly owns 117,058 shares of the company’s stock, valued at approximately $5,228,981. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 (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 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. On average, analysts predict that Dolby Laboratories will post $1.86 earnings per share 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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