B. Riley Analysts Give Dolby Laboratories (DLB) a $62.00 Price Target
Dolby Laboratories (NYSE:DLB) received a $62.00 price target from B. Riley in a report issued on Friday. The brokerage currently has a “buy” rating on the electronics maker’s stock. B. Riley’s price target would indicate a potential upside of 28.05% from the stock’s current price.
A number of other research firms have also commented on DLB. Zacks Investment Research lowered shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub raised shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Dolby Laboratories has an average rating of “Hold” and a consensus price target of $54.38.
Dolby Laboratories (NYSE DLB) traded down 0.53% during midday trading on Friday, reaching $48.42. The company had a trading volume of 393,480 shares. The company has a market capitalization of $4.97 billion, a P/E ratio of 24.77 and a beta of 0.79. 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 $51.21 and its 200-day moving average is $50.76.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.10. The firm had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. Equities analysts expect that Dolby Laboratories will post $1.99 earnings per share for the current fiscal year.
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In other Dolby Laboratories news, insider Kevin J. Yeaman sold 10,000 shares of Dolby Laboratories stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction on Monday, July 31st. The shares were sold at an average price of $52.22, for a total transaction of $5,222,000.00. The disclosure for this sale can be found here. Insiders sold a total of 810,000 shares of company stock valued at $41,365,900 in the last ninety days. Company insiders own 43.80% of the company’s stock.
Large investors have recently modified their holdings of the stock. Algert Global LLC raised its stake in shares of Dolby Laboratories by 16.3% in the first quarter. Algert Global LLC now owns 24,726 shares of the electronics maker’s stock worth $1,296,000 after buying an additional 3,462 shares during the period. First Trust Advisors LP raised its stake in shares of Dolby Laboratories by 66.9% in the first quarter. First Trust Advisors LP now owns 232,414 shares of the electronics maker’s stock worth $12,181,000 after buying an additional 93,191 shares during the period. Wrapmanager Inc. raised its stake in shares of Dolby Laboratories by 2.9% in the first quarter. Wrapmanager Inc. now owns 6,106 shares of the electronics maker’s stock worth $320,000 after buying an additional 171 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of Dolby Laboratories during the first quarter worth about $249,000. Finally, Spot Trading L.L.C. bought a new stake in shares of Dolby Laboratories during the first quarter worth about $660,000. 50.38% of the stock is owned by institutional investors.
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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