Dolby Laboratories, Inc. (NYSE:DLB) Director Peter C. Gotcher sold 5,233 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $62.12, for a total value of $325,073.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Dolby Laboratories, Inc. (DLB) traded down $3.10 during trading on Thursday, reaching $59.98. The company had a trading volume of 597,846 shares, compared to its average volume of 444,265. Dolby Laboratories, Inc. has a twelve month low of $47.41 and a twelve month high of $74.29. The stock has a market capitalization of $6,494.27, a PE ratio of 95.21, a price-to-earnings-growth ratio of 5.34 and a beta of 0.78.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.35. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. The firm had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $265.75 million. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities analysts anticipate that Dolby Laboratories, Inc. will post 0.99 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Intl Fcstone Inc. purchased a new position in shares of Dolby Laboratories in the 2nd quarter worth about $345,000. Schroder Investment Management Group purchased a new position in shares of Dolby Laboratories in the 3rd quarter worth about $35,761,000. Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock worth $231,360,000 after purchasing an additional 103,702 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dolby Laboratories by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 536,657 shares of the electronics maker’s stock worth $26,276,000 after purchasing an additional 2,648 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in shares of Dolby Laboratories in the 3rd quarter worth about $254,000. Hedge funds and other institutional investors own 53.01% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. B. Riley cut Dolby Laboratories to a “hold” rating and set a $63.00 target price for the company. in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their target price on Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Dolby Laboratories has an average rating of “Hold” and a consensus price target of $62.00.
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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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