Dolby Laboratories (NYSE:DLB) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
DLB has been the subject of several other research reports. Zacks Investment Research cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. B. Riley reissued a “neutral” rating and set a $57.00 target price on shares of Dolby Laboratories in a research note on Sunday, April 30th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.00.
Dolby Laboratories (NYSE DLB) traded up 1.89% during trading on Friday, reaching $50.25. The company had a trading volume of 254,798 shares. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 27.29 and a beta of 0.77. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $55.02. The company’s 50-day moving average is $50.48 and its 200 day moving average is $49.82.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, April 26th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $273.84 million. Dolby Laboratories had a return on equity of 9.91% and a net margin of 18.34%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. Equities analysts anticipate that Dolby Laboratories will post $1.97 EPS for the current year.
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In other news, CFO Lewis Chew sold 14,300 shares of Dolby Laboratories stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $50.34, for a total value of $719,862.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicholas Donatiello, Jr. sold 2,000 shares of Dolby Laboratories stock in a transaction on Monday, May 8th. The shares were sold at an average price of $51.75, for a total value of $103,500.00. The disclosure for this sale can be found here. Insiders sold 26,300 shares of company stock valued at $1,336,662 over the last ninety days. Insiders own 43.80% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Watermark Asset Management Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter worth $114,000. James Investment Research Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter worth $155,000. US Bancorp DE boosted its stake in shares of Dolby Laboratories by 4.8% in the first quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock worth $155,000 after buying an additional 135 shares during the last quarter. Northeast Financial Consultants Inc purchased a new stake in shares of Dolby Laboratories during the first quarter worth $229,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter worth $249,000. 50.65% of the stock is owned by institutional investors and hedge funds.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.