Dolby Laboratories major shareholder Dagmar Dolby Unloads 80,000 Shares (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 80,000 shares of Dolby Laboratories stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $46.75, for a total transaction of $3,740,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares 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.
Shares of Dolby Laboratories (NYSE:DLB) traded up 0.11% during mid-day trading on Friday, hitting $46.58. The stock had a trading volume of 318,638 shares. Dolby Laboratories has a 52-week low of $31.19 and a 52-week high of $47.29. The stock’s 50-day moving average is $44.74 and its 200-day moving average is $42.91. The company has a market cap of $4.757 billion and a price-to-earnings ratio of 23.25.
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. Analysts expect that Dolby Laboratories will post $1.86 EPS 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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