Dolby Laboratories Inc. (DLB) Insider Sells $1,215,610.00 in Stock
Dolby Laboratories Inc. (NYSE:DLB) insider Kevin J. Yeaman sold 22,102 shares of the company’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $55.00, for a total value of $1,215,610.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Kevin J. Yeaman also recently made the following trade(s):
- On Thursday, August 11th, Kevin J. Yeaman sold 3,287 shares of Dolby Laboratories stock. The stock was sold at an average price of $49.52, for a total value of $162,772.24.
Dolby Laboratories Inc. (NYSE:DLB) opened at 53.40 on Wednesday. The firm has a market cap of $5.48 billion, a P/E ratio of 26.05 and a beta of 0.57. The stock has a 50 day moving average price of $51.72 and a 200 day moving average price of $48.05. Dolby Laboratories Inc. has a 52-week low of $30.38 and a 52-week high of $55.02.
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Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, July 27th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.25. The company earned $277.60 million during the quarter, compared to the consensus estimate of $268.04 million. Dolby Laboratories had a return on equity of 10.19% and a net margin of 20.19%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS. Equities analysts predict that Dolby Laboratories Inc. will post $1.79 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado boosted its position in shares of Dolby Laboratories by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,132 shares of the company’s stock valued at $485,000 after buying an additional 30 shares during the last quarter. BB&T Securities LLC boosted its position in shares of Dolby Laboratories by 0.6% in the first quarter. BB&T Securities LLC now owns 6,979 shares of the company’s stock valued at $303,000 after buying an additional 44 shares during the last quarter. IBM Retirement Fund boosted its position in shares of Dolby Laboratories by 1.5% in the second quarter. IBM Retirement Fund now owns 5,122 shares of the company’s stock valued at $245,000 after buying an additional 76 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Dolby Laboratories by 3.1% in the second quarter. Legal & General Group Plc now owns 4,893 shares of the company’s stock valued at $234,000 after buying an additional 149 shares during the last quarter. Finally, Wrapmanager Inc. boosted its position in shares of Dolby Laboratories by 4.5% in the second quarter. Wrapmanager Inc. now owns 5,738 shares of the company’s stock valued at $275,000 after buying an additional 248 shares during the last quarter. Institutional investors own 49.40% of the company’s stock.
DLB has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on Dolby Laboratories in a report on Tuesday, October 4th. They set a “neutral” rating and a $51.00 target price on the stock. B. Riley set a $50.00 target price on Dolby Laboratories and gave the stock a “hold” rating in a report on Thursday, July 28th. Dougherty & Co upped their target price on Dolby Laboratories from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research downgraded Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $50.80.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.
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