Insider Selling: Dolby Laboratories SVP Michael Bergeron Sells 1,347 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) SVP Michael Bergeron unloaded 1,347 shares of Dolby Laboratories stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $45.67, for a total value of $61,517.49. Following the completion of the sale, the senior vice president now directly owns 54,833 shares in the company, valued at approximately $2,504,223. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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’s 50-day moving average is $43.98 and its 200-day moving average is $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 in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter 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.
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.
Dolby Laboratories, Inc designs and manufactures video and audio products for the film production, cinema, and television broadcast industries.
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