Dolby Laboratories (NYSE:DLB) Given Average Rating of “Moderate Buy” by Analysts

Dolby Laboratories (NYSE:DLB) has earned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $90.75.

Several brokerages have recently issued reports on DLB. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Monday, December 29th. Barrington Research decreased their price objective on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research report on Friday. Finally, Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday.

Dolby Laboratories Price Performance

DLB opened at $64.50 on Tuesday. Dolby Laboratories has a one year low of $60.14 and a one year high of $85.45. The business has a 50 day simple moving average of $65.03 and a two-hundred day simple moving average of $68.72. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 26.01 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The company had revenue of $346.71 million during the quarter, compared to analyst estimates of $341.26 million. During the same quarter last year, the firm posted $1.14 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $1.44 annualized dividend and a dividend yield of 2.2%. Dolby Laboratories’s dividend payout ratio is presently 58.06%.

Insider Buying and Selling

In other news, SVP John D. Couling sold 7,273 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $68.75, for a total value of $500,018.75. Following the transaction, the senior vice president owned 108,065 shares in the company, valued at approximately $7,429,468.75. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Andrew Sherman sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $67.26, for a total transaction of $167,544.66. Following the completion of the transaction, the executive vice president owned 70,563 shares of the company’s stock, valued at approximately $4,746,067.38. The trade was a 3.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 137,120 shares of company stock valued at $9,184,809. 37.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DLB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Dolby Laboratories by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,777 shares of the electronics maker’s stock worth $1,172,000 after buying an additional 1,146 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in Dolby Laboratories by 193.2% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 17,275 shares of the electronics maker’s stock worth $1,283,000 after acquiring an additional 11,384 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Dolby Laboratories by 787.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 27,526 shares of the electronics maker’s stock worth $1,992,000 after acquiring an additional 24,423 shares during the period. Summit Creek Advisors LLC raised its stake in Dolby Laboratories by 24.9% during the 3rd quarter. Summit Creek Advisors LLC now owns 125,034 shares of the electronics maker’s stock worth $9,049,000 after acquiring an additional 24,905 shares during the period. Finally, Boston Trust Walden Corp lifted its holdings in Dolby Laboratories by 2.1% during the second quarter. Boston Trust Walden Corp now owns 1,098,218 shares of the electronics maker’s stock valued at $81,554,000 after purchasing an additional 22,404 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.