Rosenblatt Securities Reiterates Buy Rating for Dolby Laboratories (NYSE:DLB)

Dolby Laboratories (NYSE:DLB)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a research report issued on Thursday,Benzinga reports. They presently have a $100.00 price target on the electronics maker’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 24.08% from the stock’s previous close.

DLB has been the subject of several other reports. Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Monday. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th.

Dolby Laboratories Stock Down 0.0 %

Shares of DLB stock opened at $80.59 on Thursday. Dolby Laboratories has a 12-month low of $66.35 and a 12-month high of $85.30. The company has a market capitalization of $7.69 billion, a PE ratio of 29.74 and a beta of 0.98. The firm has a 50 day moving average price of $79.15 and a two-hundred day moving average price of $75.65.

Insider Activity at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the sale, the chief accounting officer now directly owns 24,364 shares of the company’s stock, valued at approximately $1,953,505.52. The trade was a 30.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Andrew Sherman sold 12,338 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,917 shares of company stock valued at $10,877,739 over the last three months. 38.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of DLB. Boston Trust Walden Corp boosted its stake in shares of Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after purchasing an additional 698,283 shares in the last quarter. Clifford Capital Partners LLC grew its holdings in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after acquiring an additional 262,162 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Dolby Laboratories by 10,441,900.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after acquiring an additional 104,419 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Dolby Laboratories by 496.7% during the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after acquiring an additional 85,093 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.