Dolby Laboratories (NYSE:DLB) was upgraded by analysts at B. Riley to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $61.50 price objective on the electronics maker’s stock. B. Riley’s price target suggests a potential upside of 16.54% from the stock’s previous close.

A number of other analysts have also recently commented on DLB. Zacks Investment Research cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. BidaskClub cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Dolby Laboratories presently has an average rating of “Hold” and an average target price of $54.90.

Dolby Laboratories (NYSE:DLB) traded down 1.12% on Friday, hitting $52.77. 322,874 shares of the company’s stock traded hands. Dolby Laboratories has a one year low of $44.99 and a one year high of $55.02. The stock has a market cap of $5.41 billion, a PE ratio of 28.66 and a beta of 0.77. The stock has a 50-day moving average of $50.58 and a 200-day moving average of $50.34.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates 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 net margin of 18.34% and a return on equity of 9.91%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, equities analysts forecast that Dolby Laboratories will post $1.97 earnings per share for the current fiscal year.

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In related news, insider Kevin J. Yeaman sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $51.33, for a total transaction of $513,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nicholas Donatiello, Jr. sold 2,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $51.75, for a total transaction of $103,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,300 shares of company stock valued at $1,336,662. 43.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado raised its position in Dolby Laboratories by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,132 shares of the electronics maker’s stock valued at $485,000 after buying an additional 30 shares during the last quarter. BB&T Securities LLC raised its position in Dolby Laboratories by 0.6% in the first quarter. BB&T Securities LLC now owns 6,979 shares of the electronics maker’s stock valued at $303,000 after buying an additional 44 shares during the last quarter. Ameriprise Financial Inc. raised its position in Dolby Laboratories by 0.4% in the first quarter. Ameriprise Financial Inc. now owns 15,650 shares of the electronics maker’s stock valued at $821,000 after buying an additional 61 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Dolby Laboratories by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 19,670 shares of the electronics maker’s stock valued at $1,031,000 after buying an additional 66 shares during the last quarter. Finally, IBM Retirement Fund raised its position in Dolby Laboratories by 1.5% in the second quarter. IBM Retirement Fund now owns 5,122 shares of the electronics maker’s stock valued at $245,000 after buying an additional 76 shares during the last quarter. Institutional investors own 50.60% of the company’s stock.

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.

Analyst Recommendations for Dolby Laboratories (NYSE:DLB)

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