Share on StockTwits

Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 80,000 shares of Dolby Laboratories stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $47.02, for a total transaction of $3,761,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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) remained flat at $46.93 during trading on Wednesday. 254,166 shares of the company’s stock traded hands. Dolby Laboratories has a one year low of $31.19 and a one year high of $47.29. The stock’s 50-day moving average is $44.66 and its 200-day moving average is $42.89. The company has a market cap of $4.793 billion and a price-to-earnings 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 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. 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.