Insider Selling: Dolby Laboratories EVP Sells 2,510 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) EVP Michael J. Rockwell unloaded 2,510 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $46.20, for a total transaction of $115,962.00. Following the completion of the sale, the executive vice president now directly owns 109,069 shares of the company’s stock, valued at approximately $5,038,988. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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) traded down 0.09% on Wednesday, hitting $46.09. 338,177 shares of the company’s stock traded hands. Dolby Laboratories has a one year low of $31.19 and a one year high of $46.48. The stock has a 50-day moving average of $44.24 and a 200-day moving average of $42.66. The company has a market cap of $4.707 billion and a P/E ratio of 23.05.
Dolby Laboratories (NYSE:DLB) last announced its 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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