Insider Selling: Michael J. Rockwell Sells 2,510 Shares of Dolby Laboratories Stock (DLB)
Dolby Laboratories (NYSE:DLB) EVP Michael J. Rockwell sold 2,510 shares of the stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $46.20, for a total value of $115,962.00. Following the sale, the executive vice president now directly owns 109,069 shares in the company, valued at approximately $5,038,988. The transaction was disclosed in a document filed 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 up 0.80% on Friday, hitting $46.77. The stock had a trading volume of 90,352 shares. Dolby Laboratories has a 52-week low of $31.19 and a 52-week high of $46.50. The stock’s 50-day moving average is $44.32 and its 200-day moving average is $42.69. The company has a market cap of $4.776 billion and a P/E ratio of 23.19.
Dolby Laboratories (NYSE:DLB) last released its earnings data on Thursday, July 24th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the 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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