Dolby Laboratories’ (DLB) “DLB (” Rating Reaffirmed at B. Riley
Dolby Laboratories (NYSE:DLB)‘s stock had its “dlb (” rating restated by analysts at B. Riley in a research note issued on Friday. They presently have a $61.50 price target on the electronics maker’s stock. B. Riley’s price target indicates a potential upside of 26.34% from the company’s current price.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.38.
Dolby Laboratories (NYSE:DLB) opened at 48.68 on Friday. The stock’s 50 day moving average price is $51.24 and its 200-day moving average price is $50.75. The company has a market cap of $4.99 billion, a PE ratio of 24.90 and a beta of 0.79. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $55.02.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. The business had revenue of $305.67 million during the quarter, compared to the consensus estimate of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS. On average, analysts forecast that Dolby Laboratories will post $1.99 earnings per share for the current year.
In other Dolby Laboratories news, insider Kevin J. Yeaman sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $49.71, for a total transaction of $4,971,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 810,000 shares of company stock valued at $41,365,900. Insiders own 43.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. increased its position in Dolby Laboratories by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,461 shares of the electronics maker’s stock valued at $463,000 after buying an additional 24 shares during the period. Public Employees Retirement Association of Colorado boosted its stake 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 period. BB&T Securities LLC boosted its stake 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 period. Ameriprise Financial Inc. boosted its stake 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 period. Finally, Envestnet Asset Management Inc. boosted its stake 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 period. Institutional investors and hedge funds own 50.38% 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.
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