Dolby Laboratories (NYSE:DLB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, July 4th.

According to Zacks, “Dolby has a decent earnings surprise history, beating estimates thrice over the trailing four quarters. Presently, the company is focusing on bolstering its leadership position in audio solutions and bringing new audiovisual experiences to market to grab a greater market share. Going forward, Impressive market traction of offerings under three of its new businesses—Dolby Voice, Dolby Vision and Dolby Cinema—are expected to boost growth. Despite these positives, year to date Dolby's shares have underperformed the Zacks categorized Audio/Video Home Products industry average. Stiff competition, price-sensitive nature of the entertainment industry and fluctuations of cinema product sales pose as significant headwinds to the company’s margins. Also, fluctuations in cinema product sales and maturity of the digital cinema market might also hurt the company’s profitability.”

Several other analysts have also commented on the company. BidaskClub lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. B. Riley reissued a “neutral” rating and issued a $57.00 price objective on shares of Dolby Laboratories in a research note on Sunday, April 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Dolby Laboratories has a consensus rating of “Hold” and a consensus price target of $54.38.

Dolby Laboratories (NYSE DLB) traded down 0.51% during midday trading on Tuesday, reaching $51.15. 312,733 shares of the company traded hands. The firm has a market capitalization of $5.25 billion, a PE ratio of 26.16 and a beta of 0.79. The company’s 50-day moving average price is $51.06 and its 200 day moving average price is $50.66. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $55.02.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. The business had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a return on equity of 10.39% and a net margin of 19.02%. Dolby Laboratories’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, equities analysts anticipate that Dolby Laboratories will post $1.98 earnings per share for the current year.

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In other Dolby Laboratories news, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dagmar Dolby sold 100,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $52.22, for a total value of $5,222,000.00. The disclosure for this sale can be found here. Insiders sold 226,300 shares of company stock valued at $11,766,262 in the last quarter. 43.80% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Cardinal Capital Management raised its position in Dolby Laboratories by 1.4% in the first quarter. Cardinal Capital Management now owns 21,093 shares of the electronics maker’s stock worth $1,105,000 after buying an additional 300 shares during the period. Fox Run Management L.L.C. raised its stake in shares of Dolby Laboratories by 25.2% in the first quarter. Fox Run Management L.L.C. now owns 16,900 shares of the electronics maker’s stock worth $886,000 after buying an additional 3,400 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Dolby Laboratories by 7.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 667,333 shares of the electronics maker’s stock worth $30,157,000 after buying an additional 44,403 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Dolby Laboratories during the fourth quarter worth approximately $413,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Dolby Laboratories during the fourth quarter worth approximately $714,000. Institutional investors own 50.65% of the company’s stock.

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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