Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) Director Sells $699,709.68 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) Director Peter C. Gotcher sold 8,004 shares of Dolby Laboratories stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $87.42, for a total transaction of $699,709.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

DLB opened at $87.80 on Friday. Dolby Laboratories, Inc. has a 12-month low of $44.68 and a 12-month high of $90.09. The firm has a market capitalization of $8.83 billion, a PE ratio of 39.02, a P/E/G ratio of 2.75 and a beta of 0.81. The firm has a 50 day moving average of $75.18 and a two-hundred day moving average of $67.67.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, November 12th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. Dolby Laboratories had a net margin of 19.91% and a return on equity of 9.95%. The company had revenue of $271.20 million during the quarter, compared to analyst estimates of $245.04 million. During the same period last year, the firm posted $0.66 EPS. Dolby Laboratories’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Dolby Laboratories, Inc. will post 2.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, November 23rd. Dolby Laboratories’s dividend payout ratio (DPR) is 38.26%.

DLB has been the subject of a number of recent analyst reports. B. Riley lifted their target price on shares of Dolby Laboratories from $73.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, November 13th. Barrington Research raised their price target on shares of Dolby Laboratories from $70.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Zacks Investment Research raised shares of Dolby Laboratories from a “sell” rating to a “hold” rating and set a $73.00 price target for the company in a research report on Friday, August 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $75.00.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Dolby Laboratories by 3.9% during the 3rd quarter. BlackRock Inc. now owns 3,360,473 shares of the electronics maker’s stock valued at $222,732,000 after purchasing an additional 126,781 shares in the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of Dolby Laboratories by 4.4% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,316,169 shares of the electronics maker’s stock valued at $87,236,000 after purchasing an additional 55,900 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Dolby Laboratories by 156.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,126,102 shares of the electronics maker’s stock valued at $74,178,000 after purchasing an additional 686,162 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of Dolby Laboratories by 0.9% during the 3rd quarter. Nantahala Capital Management LLC now owns 938,656 shares of the electronics maker’s stock valued at $62,214,000 after purchasing an additional 8,463 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Dolby Laboratories by 3.0% during the 2nd quarter. Baird Financial Group Inc. now owns 844,774 shares of the electronics maker’s stock valued at $58,120,000 after purchasing an additional 24,590 shares in the last quarter. 56.47% of the stock is owned by hedge funds and other 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 a range of media applications.; 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 cinema and a range of media devices.

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