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Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 80,000 shares of the stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.79, for a total transaction of $3,663,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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 (NYSE:DLB) traded up 0.52% during mid-day trading on Thursday, hitting $46.3275. The stock had a trading volume of 192,075 shares. Dolby Laboratories has a 1-year low of $31.19 and a 1-year high of $46.48. The stock’s 50-day moving average is $44.24 and its 200-day moving average is $42.66. The company has a market cap of $4.731 billion and a price-to-earnings ratio of 23.03.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data 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 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. 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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