Dolby Laboratories Inc. (DLB) Research Coverage Started at JPMorgan Chase & Co.
Analysts at JPMorgan Chase & Co. initiated coverage on shares of Dolby Laboratories Inc. (NYSE:DLB) in a research note issued to investors on Tuesday. The brokerage set a “neutral” rating on the stock.
A number of other research firms have also issued reports on DLB. B. Riley set a $50.00 target price on shares of Dolby Laboratories and gave the stock a “hold” rating in a report on Thursday, July 28th. Dougherty & Co upped their price objective on shares of Dolby Laboratories from $54.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research lowered shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.00.
Shares of Dolby Laboratories (NYSE:DLB) opened at 54.22 on Tuesday. Dolby Laboratories has a one year low of $30.38 and a one year high of $54.68. The company’s 50-day moving average is $50.94 and its 200-day moving average is $47.52. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 26.45 and a beta of 0.57.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.25. The company earned $277.60 million during the quarter, compared to analysts’ expectations of $268.04 million. Dolby Laboratories had a net margin of 20.19% and a return on equity of 10.19%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, equities analysts predict that Dolby Laboratories will post $1.79 EPS for the current year.
In other news, major shareholder Dagmar Dolby sold 50,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $48.53, for a total transaction of $2,426,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Lewis Chew sold 12,000 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $49.79, for a total transaction of $597,480.00. The disclosure for this sale can be found here. Company insiders own 45.16% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Trading LLC raised its position in shares of Dolby Laboratories by 155.8% in the second quarter. Walleye Trading LLC now owns 2,122 shares of the company’s stock valued at $102,000 after buying an additional 5,922 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Dolby Laboratories by 13.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the company’s stock valued at $139,000 after buying an additional 353 shares during the period. US Bancorp DE raised its position in shares of Dolby Laboratories by 17.2% in the second quarter. US Bancorp DE now owns 3,138 shares of the company’s stock valued at $150,000 after buying an additional 460 shares during the period. Jackson Grant Investment Advisers Inc. bought a new position in shares of Dolby Laboratories during the second quarter valued at about $165,000. Finally, Advisor Group Inc. bought a new position in shares of Dolby Laboratories during the second quarter valued at about $166,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.
Receive News & Stock Ratings for Dolby Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories Inc. and related stocks with our FREE daily email newsletter.