Dolby Laboratories Hits New 1-Year High at $47.29 (DLB)
Dolby Laboratories (NYSE:DLB) hit a new 52-week high on Monday , AnalystRatingsNetwork reports. The stock traded as high as $47.29 and last traded at $46.82, with a volume of 141,800 shares traded. The stock had previously closed at $46.59.
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.
The stock’s 50-day moving average is $44.40 and its 200-day moving average is $42.74. The company has a market cap of $4.784 billion and a price-to-earnings ratio of 23.28.
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. Analysts expect that Dolby Laboratories will post $1.86 EPS for the current fiscal year.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 80,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $46.10, for a total value of $3,688,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.
Dolby Laboratories, Inc designs and manufactures video and audio products for the film production, cinema, and television broadcast industries.
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