Dolby Laboratories (NYSE:DLB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Dolby Laboratories (NYSE:DLB) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $90.75.

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

Dolby Laboratories Stock Performance

NYSE:DLB opened at $58.89 on Wednesday. Dolby Laboratories has a 52-week low of $58.39 and a 52-week high of $82.63. The company has a market cap of $5.63 billion, a P/E ratio of 23.75 and a beta of 0.84. The stock’s 50-day simple moving average is $63.60 and its 200 day simple moving average is $66.28.

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

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 annualized dividend and a dividend yield of 2.4%. Dolby Laboratories’s payout ratio is currently 58.06%.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, SVP Shriram Revankar sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total transaction of $198,420.00. Following the transaction, the senior vice president owned 83,218 shares of the company’s stock, valued at $5,504,038.52. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 2,667 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $66.38, for a total value of $177,035.46. Following the completion of the sale, the chief accounting officer owned 36,956 shares in the company, valued at $2,453,139.28. This represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 37.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DLB. Boothbay Fund Management LLC raised its stake in Dolby Laboratories by 4.1% in the 2nd quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker’s stock valued at $299,000 after acquiring an additional 157 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in Dolby Laboratories by 1.1% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 15,733 shares of the electronics maker’s stock valued at $1,139,000 after purchasing an additional 170 shares during the last quarter. Covestor Ltd boosted its position in Dolby Laboratories by 6.0% during the fourth quarter. Covestor Ltd now owns 3,088 shares of the electronics maker’s stock worth $198,000 after purchasing an additional 175 shares during the period. Fifth Third Bancorp boosted its position in Dolby Laboratories by 34.7% during the fourth quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock worth $48,000 after purchasing an additional 192 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Dolby Laboratories by 13.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,587 shares of the electronics maker’s stock valued at $118,000 after purchasing an additional 194 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Company Profile

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.