Mark Andrew Sherman Sells 14,000 Shares of Dolby Laboratories (DLB) Stock
Dolby Laboratories (NYSE:DLB) EVP Mark Andrew Sherman sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $56.25, for a total value of $787,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Dolby Laboratories (DLB) traded up 0.17% during midday trading on Friday, reaching $58.29. The company’s stock had a trading volume of 611,570 shares. The stock has a 50 day moving average of $50.98 and a 200 day moving average of $51.06. The firm has a market capitalization of $5.98 billion, a PE ratio of 29.82 and a beta of 0.81. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $59.79.
Dolby Laboratories (NYSE:DLB) last announced its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The firm had revenue of $305.67 million during the quarter, compared to the consensus estimate of $296.88 million. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Dolby Laboratories will post $1.99 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Swiss National Bank boosted its stake in Dolby Laboratories by 3.4% during the 1st quarter. Swiss National Bank now owns 94,000 shares of the electronics maker’s stock valued at $4,927,000 after purchasing an additional 3,100 shares during the period. BB&T Securities LLC boosted its stake in Dolby Laboratories by 71.9% during the 1st quarter. BB&T Securities LLC now owns 13,308 shares of the electronics maker’s stock valued at $697,000 after purchasing an additional 5,567 shares during the period. Mackenzie Financial Corp boosted its stake in Dolby Laboratories by 21.2% during the 1st quarter. Mackenzie Financial Corp now owns 167,750 shares of the electronics maker’s stock valued at $8,792,000 after purchasing an additional 29,300 shares during the period. Karp Capital Management Corp bought a new stake in Dolby Laboratories during the 1st quarter valued at approximately $1,367,000. Finally, Skylands Capital LLC bought a new stake in Dolby Laboratories during the 2nd quarter valued at approximately $759,000. Hedge funds and other institutional investors own 51.88% of the company’s stock.
Several equities analysts recently commented on DLB shares. B. Riley reissued a “buy” rating and set a $61.50 price target on shares of Dolby Laboratories in a research report on Friday, July 28th. Dougherty & Co restated a “buy” rating and set a $63.00 price objective on shares of Dolby Laboratories in a report on Wednesday. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price objective (up from $49.00) on shares of Dolby Laboratories in a report on Wednesday. BidaskClub upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Dolby Laboratories presently has a consensus rating of “Hold” and a consensus price target of $57.30.
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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