Dolby Laboratories, Inc. (NYSE:DLB) Receives $79.67 Average PT from Analysts

Shares of Dolby Laboratories, Inc. (NYSE:DLB) have been given a consensus recommendation of “Buy” by the seven analysts that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $79.67.

DLB has been the subject of a number of recent research reports. Tigress Financial reiterated a “buy” rating on shares of Dolby Laboratories in a research note on Wednesday. William Blair reiterated a “buy” rating on shares of Dolby Laboratories in a research note on Friday, August 2nd. B. Riley reiterated a “neutral” rating and set a $73.00 price objective (up from $67.00) on shares of Dolby Laboratories in a research note on Friday, August 2nd. Finally, ValuEngine upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th.

In related news, CEO Kevin J. Yeaman sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $67.50, for a total transaction of $1,687,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ryan Nicholson sold 8,197 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.04, for a total value of $500,344.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,005,760 shares of company stock valued at $65,187,824. 40.23% of the stock is currently owned by corporate insiders.



Several large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in Dolby Laboratories by 31.6% in the 2nd quarter. Janus Henderson Group PLC now owns 4,828,522 shares of the electronics maker’s stock worth $311,906,000 after purchasing an additional 1,158,072 shares during the period. Invesco Ltd. boosted its stake in Dolby Laboratories by 1,445.8% in the 2nd quarter. Invesco Ltd. now owns 861,129 shares of the electronics maker’s stock worth $55,629,000 after purchasing an additional 805,420 shares during the period. Nuveen Asset Management LLC bought a new position in Dolby Laboratories in the 2nd quarter worth approximately $41,052,000. Mackenzie Financial Corp boosted its stake in Dolby Laboratories by 53.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,644,535 shares of the electronics maker’s stock worth $106,237,000 after purchasing an additional 574,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Dolby Laboratories in the 1st quarter worth approximately $22,284,000. Institutional investors own 57.29% of the company’s stock.

Shares of Dolby Laboratories stock traded down $1.10 during trading hours on Tuesday, reaching $61.92. 334,842 shares of the stock traded hands, compared to its average volume of 326,935. The company has a 50 day moving average price of $61.14 and a 200 day moving average price of $63.40. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 2.25 and a beta of 0.86. Dolby Laboratories has a one year low of $56.09 and a one year high of $71.77.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, August 1st. The electronics maker reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.11). The firm had revenue of $302.16 million for the quarter, compared to the consensus estimate of $305.29 million. Dolby Laboratories had a net margin of 21.64% and a return on equity of 9.00%. The company’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts expect that Dolby Laboratories will post 2.16 EPS for the current year.

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, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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Analyst Recommendations for Dolby Laboratories (NYSE:DLB)

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