Dolby Laboratories (NYSE:DLB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Dolby Laboratories (NYSE:DLB) has received a consensus rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $90.75.

A number of equities analysts have issued reports on the stock. Barrington Research cut their target price on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, January 26th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research report on Friday, January 30th. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Monday, December 29th.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 34,367 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $67.08, for a total transaction of $2,305,338.36. Following the transaction, the chief executive officer owned 98,377 shares of the company’s stock, valued at approximately $6,599,129.16. This represents a 25.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John D. Couling sold 7,273 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $68.75, for a total transaction of $500,018.75. Following the sale, the senior vice president owned 108,065 shares in the company, valued at approximately $7,429,468.75. This trade represents a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 96,924 shares of company stock worth $6,500,521 in the last ninety days. Company insiders own 37.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DLB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position 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 acquiring an additional 1,146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Dolby Laboratories during the third quarter worth approximately $615,000. Campbell & CO Investment Adviser LLC boosted its holdings in shares of 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 valued at $1,283,000 after purchasing an additional 11,384 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of Dolby Laboratories by 6.7% during the 3rd quarter. Alps Advisors Inc. now owns 281,532 shares of the electronics maker’s stock valued at $20,374,000 after buying an additional 17,592 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of 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 buying an additional 24,423 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

DLB opened at $66.56 on Friday. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 26.84 and a beta of 0.86. Dolby Laboratories has a one year low of $60.14 and a one year high of $84.15. The business’s fifty day moving average is $64.32 and its two-hundred day moving average is $67.58.

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

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.2%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 58.06%.

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.