Analysts Set Dolby Laboratories (NYSE:DLB) Price Target at $55.00
Shares of Dolby Laboratories (NYSE:DLB) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $55.00.
Several research analysts recently weighed in on the company. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Finally, B. Riley reaffirmed a “neutral” rating and set a $57.00 target price (up previously from $52.00) on shares of Dolby Laboratories in a research note on Tuesday, April 25th.
In related news, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $51.33, for a total value of $513,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Donatiello, Jr. sold 2,000 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $51.75, for a total value of $103,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,300 shares of company stock valued at $1,336,662. 43.80% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Dolby Laboratories by 8.6% in the fourth quarter. State Street Corp now owns 627,268 shares of the electronics maker’s stock valued at $28,349,000 after buying an additional 49,725 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Dolby Laboratories by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 502,771 shares of the electronics maker’s stock valued at $22,722,000 after buying an additional 27,590 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Dolby Laboratories by 5.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,604 shares of the electronics maker’s stock valued at $884,000 after buying an additional 1,066 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Dolby Laboratories during the fourth quarter valued at $757,000. Finally, First Republic Investment Management Inc. raised its position in shares of Dolby Laboratories by 8.0% in the fourth quarter. First Republic Investment Management Inc. now owns 8,790 shares of the electronics maker’s stock valued at $397,000 after buying an additional 652 shares during the last quarter. 50.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Dolby Laboratories (NYSE DLB) traded up 0.10% on Monday, hitting $51.36. 159,157 shares of the stock were exchanged. The stock has a market cap of $5.27 billion, a PE ratio of 27.90 and a beta of 0.77. The company’s 50 day moving average is $50.48 and its 200-day moving average is $49.82. Dolby Laboratories has a 52-week low of $44.99 and a 52-week high of $55.02.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, April 26th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. Dolby Laboratories had a return on equity of 9.91% and a net margin of 18.34%. The company had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $273.84 million. During the same quarter in the prior year, the business posted $0.82 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Analysts predict that Dolby Laboratories will post $1.97 EPS for the current fiscal year.
About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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