Dolby Laboratories, Inc. (NYSE:DLB) Director Peter C. Gotcher sold 9,310 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total value of $558,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Dolby Laboratories, Inc. (NYSE:DLB) traded up 0.39% during mid-day trading on Friday, reaching $59.77. The company had a trading volume of 382,490 shares. Dolby Laboratories, Inc. has a 52-week low of $44.99 and a 52-week high of $60.49. The company has a market capitalization of $6.13 billion, a PE ratio of 30.57 and a beta of 0.85. The company’s 50-day moving average price is $56.92 and its 200-day moving average price is $52.44.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.10. The company had revenue of $305.67 million during the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a net margin of 24.92% and a return on equity of 14.69%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. On average, analysts forecast that Dolby Laboratories, Inc. will post $1.99 earnings per share for the current fiscal year.

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A number of research analysts have commented on DLB shares. Dougherty & Co restated a “buy” rating and set a $63.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, September 13th. B. Riley reaffirmed a “buy” rating and set a $61.50 target price on shares of Dolby Laboratories in a research report on Thursday, September 14th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. BidaskClub raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $60.33.

Several hedge funds and other institutional investors have recently bought and sold shares of DLB. Watermark Asset Management Inc. acquired a new stake in shares of Dolby Laboratories during the first quarter worth approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Dolby Laboratories by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after buying an additional 209 shares in the last quarter. US Bancorp DE increased its holdings in shares of Dolby Laboratories by 2.6% during the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock worth $149,000 after buying an additional 78 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Dolby Laboratories by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after buying an additional 725 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Dolby Laboratories by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock worth $227,000 after buying an additional 205 shares in the last quarter. 51.87% of the stock is owned by institutional investors.

Dolby Laboratories Company Profile

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.

Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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