Dolby Laboratories (DLB) PT Set at $62.00 by B. Riley
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Dolby Laboratories from a sell rating to a hold rating in a report on Tuesday, July 4th. BidaskClub downgraded Dolby Laboratories from a hold rating to a sell rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Dolby Laboratories presently has a consensus rating of Hold and an average target price of $54.38.
Shares of Dolby Laboratories (NYSE:DLB) opened at 48.25 on Friday. The firm has a market cap of $4.95 billion, a P/E ratio of 24.68 and a beta of 0.79. The stock’s 50 day moving average is $51.19 and its 200 day moving average is $50.80. 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 earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $305.67 million during the quarter, compared to the consensus estimate of $296.88 million. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. Equities research analysts expect that Dolby Laboratories will post $1.99 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were paid a $0.14 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.56 annualized dividend and a yield of 1.16%. Dolby Laboratories’s payout ratio is 28.57%.
In related news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $52.22, for a total value of $5,222,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 910,000 shares of company stock worth $46,247,900. 43.80% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of DLB. Swiss National Bank boosted its stake in shares of Dolby Laboratories by 3.4% in the first quarter. Swiss National Bank now owns 94,000 shares of the electronics maker’s stock valued at $4,927,000 after buying an additional 3,100 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Dolby Laboratories by 71.9% in the first quarter. BB&T Securities LLC now owns 13,308 shares of the electronics maker’s stock valued at $697,000 after buying an additional 5,567 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Dolby Laboratories by 21.2% in the first quarter. Mackenzie Financial Corp now owns 167,750 shares of the electronics maker’s stock worth $8,792,000 after buying an additional 29,300 shares in the last quarter. Teachers Advisors LLC boosted its stake in Dolby Laboratories by 104.6% in the fourth quarter. Teachers Advisors LLC now owns 131,236 shares of the electronics maker’s stock worth $5,931,000 after buying an additional 67,098 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in Dolby Laboratories during the first quarter worth approximately $1,367,000. 50.38% of the stock is currently owned by institutional investors.
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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