Insider Selling: Dolby Laboratories, Inc. (DLB) SVP Sells 5,000 Shares of Stock
Dolby Laboratories, Inc. (NYSE:DLB) SVP Giles Baker sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Dolby Laboratories traded up $0.15, hitting $65.56, during trading on Monday, according to MarketBeat Ratings. 325,200 shares of the company’s stock traded hands, compared to its average volume of 417,288. Dolby Laboratories, Inc. has a 12-month low of $48.00 and a 12-month high of $74.29. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.36 and a beta of 0.76.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Tuesday, April 24th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.14. Dolby Laboratories had a net margin of 7.64% and a return on equity of 12.73%. The business had revenue of $301.36 million during the quarter, compared to analyst estimates of $300.37 million. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. equities analysts expect that Dolby Laboratories, Inc. will post 2.31 earnings per share for the current year.
DLB has been the subject of a number of analyst reports. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. ValuEngine upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Barrington Research reissued a “buy” rating and set a $78.00 target price on shares of Dolby Laboratories in a report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Dolby Laboratories has an average rating of “Hold” and a consensus target price of $66.50.
About Dolby Laboratories
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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