Shriram Revankar Sells 3,000 Shares of Dolby Laboratories (NYSE:DLB) Stock

Dolby Laboratories (NYSE:DLB) SVP Shriram Revankar sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total transaction of $198,420.00. Following the completion of the sale, the senior vice president directly owned 83,218 shares of the company’s stock, valued at $5,504,038.52. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shriram Revankar also recently made the following trade(s):

• On Friday, November 21st, Shriram Revankar sold 3,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.55, for a total transaction of $196,650.00.

Dolby Laboratories Price Performance

NYSE DLB opened at $64.83 on Thursday. Dolby Laboratories has a 12 month low of $60.14 and a 12 month high of $85.21. The company has a market capitalization of $6.19 billion, a P/E ratio of 26.14 and a beta of 0.86. The company’s 50 day simple moving average is $64.65 and its 200 day simple moving average is $67.92.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $346.71 million during the quarter, compared to analysts’ expectations of $341.26 million. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.2%. Dolby Laboratories’s payout ratio is 58.06%.

Institutional Trading of Dolby Laboratories

Several institutional investors have recently made changes to their positions in DLB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Dolby Laboratories by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,777 shares of the electronics maker’s stock valued at $1,172,000 after buying an additional 1,146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dolby Laboratories in the third quarter valued at about $615,000. Campbell & CO Investment Adviser LLC increased its stake in shares of Dolby Laboratories by 193.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 17,275 shares of the electronics maker’s stock worth $1,283,000 after purchasing an additional 11,384 shares during the period. Alps Advisors Inc. increased its stake in shares of Dolby Laboratories by 6.7% in the third quarter. Alps Advisors Inc. now owns 281,532 shares of the electronics maker’s stock worth $20,374,000 after purchasing an additional 17,592 shares during the period. Finally, Summit Creek Advisors LLC lifted its position in shares of Dolby Laboratories by 24.9% during the 3rd quarter. Summit Creek Advisors LLC now owns 125,034 shares of the electronics maker’s stock worth $9,049,000 after purchasing an additional 24,905 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Barrington Research reduced their price target on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, January 26th. Finally, Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $90.75.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.