Dolby Laboratories, Inc. (NYSE:DLB) CFO Lewis Chew sold 35,000 shares of Dolby Laboratories stock in a transaction on Friday, February 8th. The stock was sold at an average price of $63.28, for a total transaction of $2,214,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
DLB stock opened at $64.33 on Thursday. Dolby Laboratories, Inc. has a 12 month low of $58.17 and a 12 month high of $72.04. The stock has a market cap of $6.57 billion, a P/E ratio of 26.80, a PEG ratio of 2.18 and a beta of 0.86.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, January 30th. The electronics maker reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.40. Dolby Laboratories had a net margin of 25.47% and a return on equity of 11.30%. The firm had revenue of $302.40 million during the quarter, compared to analysts’ expectations of $295.04 million. During the same period in the previous year, the company earned ($0.80) EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that Dolby Laboratories, Inc. will post 2.24 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Dolby Laboratories by 12.4% during the 3rd quarter. BlackRock Inc. now owns 2,924,015 shares of the electronics maker’s stock worth $204,594,000 after purchasing an additional 323,489 shares during the period. Deutsche Bank AG lifted its holdings in Dolby Laboratories by 72.9% during the 3rd quarter. Deutsche Bank AG now owns 302,615 shares of the electronics maker’s stock valued at $21,171,000 after buying an additional 127,613 shares in the last quarter. Legal & General Group Plc lifted its holdings in Dolby Laboratories by 8.4% during the 3rd quarter. Legal & General Group Plc now owns 36,145 shares of the electronics maker’s stock valued at $2,529,000 after buying an additional 2,805 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Dolby Laboratories by 580.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 29,401 shares of the electronics maker’s stock valued at $1,818,000 after buying an additional 25,079 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Dolby Laboratories by 27.7% during the 3rd quarter. Hsbc Holdings PLC now owns 4,968 shares of the electronics maker’s stock valued at $348,000 after buying an additional 1,079 shares in the last quarter. 56.19% of the stock is owned by hedge funds and other institutional investors.
DLB has been the subject of a number of recent research reports. B. Riley dropped their price objective on shares of Dolby Laboratories from $69.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. R. F. Lafferty dropped their price objective on shares of Dolby Laboratories from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Zacks Investment Research raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Wednesday, January 16th. Finally, Barrington Research reissued a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $75.75.
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Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
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