Dolby Laboratories, Inc. (NYSE:DLB) Receives $77.00 Consensus Target Price from Analysts

Shares of Dolby Laboratories, Inc. (NYSE:DLB) have received a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $77.00.

A number of research firms recently issued reports on DLB. ValuEngine upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. B. Riley upgraded Dolby Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Monday, November 11th. Zacks Investment Research downgraded Dolby Laboratories from a “hold” rating to a “sell” rating and set a $73.00 price objective for the company. in a report on Monday, November 18th. Dougherty & Co reaffirmed a “buy” rating on shares of Dolby Laboratories in a report on Monday, November 11th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of Dolby Laboratories in a report on Thursday, November 21st.

DLB opened at $66.80 on Friday. Dolby Laboratories has a one year low of $56.09 and a one year high of $71.77. The company has a market cap of $6.90 billion, a P/E ratio of 27.38, a PEG ratio of 1.85 and a beta of 0.84. The business’s 50-day simple moving average is $66.34 and its 200-day simple moving average is $63.77.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Thursday, November 14th. The electronics maker reported $0.43 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 9.37%. The company had revenue of $298.80 million during the quarter, compared to analysts’ expectations of $297.55 million. During the same period last year, the business earned $0.44 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. Analysts forecast that Dolby Laboratories will post 2.87 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.88 annualized dividend and a yield of 1.32%. Dolby Laboratories’s dividend payout ratio is currently 36.07%.

In related news, CFO Lewis Chew sold 32,185 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $69.21, for a total transaction of $2,227,523.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Steven E. Forshay sold 7,148 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.50, for a total transaction of $496,786.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,254 shares of company stock valued at $12,838,819. 40.23% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Schroder Investment Management Group raised its holdings in shares of Dolby Laboratories by 8.4% in the second quarter. Schroder Investment Management Group now owns 1,162,024 shares of the electronics maker’s stock worth $75,067,000 after acquiring an additional 89,818 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Dolby Laboratories by 19.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 159,278 shares of the electronics maker’s stock valued at $10,296,000 after purchasing an additional 26,411 shares during the last quarter. Trigran Investments Inc. lifted its holdings in Dolby Laboratories by 1.2% in the 2nd quarter. Trigran Investments Inc. now owns 245,035 shares of the electronics maker’s stock valued at $15,829,000 after purchasing an additional 2,948 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Dolby Laboratories during the 3rd quarter worth about $769,000. Finally, Dean Capital Investments Management LLC boosted its stake in shares of Dolby Laboratories by 48.8% during the 3rd quarter. Dean Capital Investments Management LLC now owns 5,054 shares of the electronics maker’s stock worth $327,000 after purchasing an additional 1,658 shares during the last quarter. 57.78% of the stock is owned by institutional investors.

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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