Shares of Dolby Laboratories Inc. (NYSE:DLB) have been given a consensus rating of “Hold” by the seven analysts that are covering the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $50.25.

DLB has been the subject of a number of research reports. Zacks Investment Research cut shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. B. Riley reissued a “neutral” rating and issued a $46.00 target price on shares of Dolby Laboratories in a report on Monday, July 25th. Dougherty & Co increased their target price on shares of Dolby Laboratories from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Dolby Laboratories in a report on Tuesday, October 4th. They issued a “neutral” rating and a $51.00 target price for the company.

Dolby Laboratories (NYSE:DLB) opened at 54.43 on Friday. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 26.55 and a beta of 0.57. Dolby Laboratories has a 52 week low of $30.38 and a 52 week high of $55.02. The firm has a 50-day moving average of $51.50 and a 200-day moving average of $47.82.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, July 27th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.25. The firm 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 business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities analysts forecast that Dolby Laboratories will post $1.79 earnings per share for the current year.

In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 50,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $48.53, for a total transaction of $2,426,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bob Borchers sold 8,649 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $49.98, for a total transaction of $432,277.02. The disclosure for this sale can be found here. Company insiders own 45.16% of the company’s stock.

Several hedge funds have recently made changes to their positions in DLB. Norges Bank bought a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $31,466,000. Aperio Group LLC increased its stake in shares of Dolby Laboratories by 8.4% in the first quarter. Aperio Group LLC now owns 25,153 shares of the company’s stock valued at $1,093,000 after buying an additional 1,941 shares during the period. Ngam Advisors L.P. increased its stake in shares of Dolby Laboratories by 2.4% in the first quarter. Ngam Advisors L.P. now owns 53,019 shares of the company’s stock valued at $2,304,000 after buying an additional 1,266 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Dolby Laboratories by 64.6% in the first quarter. TIAA CREF Investment Management LLC now owns 246,515 shares of the company’s stock valued at $10,714,000 after buying an additional 96,736 shares during the period. Finally, Teachers Advisors Inc. increased its stake in shares of Dolby Laboratories by 35.1% in the first quarter. Teachers Advisors Inc. now owns 80,831 shares of the company’s stock valued at $3,513,000 after buying an additional 21,014 shares during the period. 49.40% of the stock is owned by institutional investors.

About Dolby Laboratories

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.

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