Dolby Laboratories (NYSE:DLB) Trading Up 5.8%

Dolby Laboratories, Inc. (NYSE:DLB)’s stock price was up 5.8% during trading on Friday . The stock traded as high as $69.43 and last traded at $69.36, approximately 1,000,190 shares changed hands during mid-day trading. An increase of 150% from the average daily volume of 400,575 shares. The stock had previously closed at $65.54.

Several equities research analysts have recently commented on DLB shares. William Blair restated a “buy” rating on shares of Dolby Laboratories in a research note on Friday, August 2nd. ValuEngine raised Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a report on Wednesday, September 18th. Dougherty & Co reaffirmed a “buy” rating on shares of Dolby Laboratories in a report on Monday, November 11th. Finally, B. Riley raised Dolby Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 price target for the company in a report on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $77.33.

The stock has a fifty day moving average of $64.28 and a 200-day moving average of $63.37. The firm has a market capitalization of $6.60 billion, a P/E ratio of 28.43, a PEG ratio of 1.75 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, November 14th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.05). Dolby Laboratories had a net margin of 20.56% and a return on equity of 9.34%. The business had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.55 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts predict that Dolby Laboratories, Inc. will post 2.88 earnings per share for the current fiscal year.

In related news, CFO Lewis Chew sold 15,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $60.33, for a total value of $904,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ryan Nicholson sold 8,197 shares of Dolby Laboratories stock in a transaction dated 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. Insiders own 40.23% of the company’s stock.

A number of large investors have recently made changes to their positions in DLB. Denali Advisors LLC raised its holdings in Dolby Laboratories by 702.9% during the 2nd quarter. Denali Advisors LLC now owns 28,100 shares of the electronics maker’s stock worth $1,815,000 after purchasing an additional 24,600 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Dolby Laboratories by 33.9% during the 2nd quarter. WINTON GROUP Ltd now owns 4,483 shares of the electronics maker’s stock worth $290,000 after purchasing an additional 1,136 shares during the last quarter. Boston Private Wealth LLC bought a new stake in Dolby Laboratories during the 2nd quarter worth about $649,000. PFS Investments Inc. bought a new stake in Dolby Laboratories during the 2nd quarter worth about $336,000. Finally, Marathon Asset Management LLP raised its holdings in Dolby Laboratories by 7.7% during the 2nd quarter. Marathon Asset Management LLP now owns 684,400 shares of the electronics maker’s stock worth $44,209,000 after purchasing an additional 48,850 shares during the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Company Profile (NYSE:DLB)

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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