Dolby Laboratories major shareholder Unloads $1,879,200 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 40,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $46.98, for a total value of $1,879,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Dolby Laboratories (NYSE:DLB) remained flat at $46.93 during during mid-day trading trading on Wednesday. 254,166 shares of the company’s stock traded hands. Dolby Laboratories has a 52 week low of $31.19 and a 52 week high of $47.29. The stock has a 50-day moving average of $44.66 and a 200-day moving average of $42.89. The company has a market cap of $4.793 billion and a P/E ratio of 23.45.
Dolby Laboratories (NYSE:DLB) last issued its quarterly 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. Analysts expect that Dolby Laboratories will post $1.86 EPS for the current fiscal year.
A number of analysts have recently weighed in on DLB shares. 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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