Dolby Laboratories (NYSE:DLB) – Dougherty & Co issued their FY2019 earnings per share (EPS) estimates for Dolby Laboratories in a research note issued to investors on Monday. Dougherty & Co analyst S. Frankel anticipates that the electronics maker will post earnings per share of $2.67 for the year. Dougherty & Co has a “Buy” rating and a $63.00 price objective on the stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price objective (up previously from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Finally, B. Riley restated a “buy” rating and set a $61.50 price objective on shares of Dolby Laboratories in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $60.17.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. The firm had revenue of $242.05 million during the quarter, compared to analyst estimates of $244.80 million. Dolby Laboratories had a return on equity of 10.62% and a net margin of 18.66%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share.
Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Dolby Laboratories by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after acquiring an additional 209 shares during the last quarter. Berkshire Asset Management LLC PA bought a new position in shares of Dolby Laboratories in the 3rd quarter valued at about $200,000. CIBC Asset Management Inc bought a new position in shares of Dolby Laboratories in the 3rd quarter valued at about $204,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Dolby Laboratories in the 3rd quarter valued at about $231,000. 52.53% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Mark Andrew Sherman sold 7,000 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $60.00, for a total value of $420,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin J. Yeaman sold 11,130 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $62.47, for a total transaction of $695,291.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 544,409 shares of company stock valued at $33,369,495. 43.80% of the stock is owned by insiders.
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About Dolby Laboratories
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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