Shares of Dolby Laboratories, Inc. (NYSE:DLB) have earned a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $75.75.
A number of equities analysts have issued reports on DLB shares. R. F. Lafferty lowered their target price on Dolby Laboratories from $81.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Zacks Investment Research raised Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Wednesday, January 16th. Barrington Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of Dolby Laboratories in a report on Thursday, January 31st. Finally, B. Riley set a $67.00 target price on Dolby Laboratories and gave the stock a “hold” rating in a report on Tuesday, December 4th.
In other news, SVP Giles Baker sold 6,032 shares of the stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $64.53, for a total value of $389,244.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Gotcher sold 3,920 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $65.00, for a total value of $254,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,533 shares of company stock valued at $5,502,670. Insiders own 40.23% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Dolby Laboratories by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,508,279 shares of the electronics maker’s stock worth $385,415,000 after purchasing an additional 209,633 shares during the period. Vanguard Group Inc grew its stake in Dolby Laboratories by 4.0% during the third quarter. Vanguard Group Inc now owns 5,508,279 shares of the electronics maker’s stock worth $385,415,000 after purchasing an additional 209,633 shares during the period. BlackRock Inc. grew its stake in Dolby Laboratories by 12.4% during the third quarter. BlackRock Inc. now owns 2,924,015 shares of the electronics maker’s stock worth $204,594,000 after purchasing an additional 323,489 shares during the period. FMR LLC grew its stake in Dolby Laboratories by 5.1% during the third quarter. FMR LLC now owns 2,607,991 shares of the electronics maker’s stock worth $182,481,000 after purchasing an additional 127,537 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Dolby Laboratories by 10.0% during the third quarter. Renaissance Technologies LLC now owns 2,458,000 shares of the electronics maker’s stock worth $171,986,000 after purchasing an additional 223,300 shares during the period. 56.19% of the stock is owned by institutional investors.
DLB traded down $0.57 on Monday, reaching $62.83. The stock had a trading volume of 930,748 shares, compared to its average volume of 436,352. Dolby Laboratories has a fifty-two week low of $58.17 and a fifty-two week high of $72.04. The stock has a market cap of $6.46 billion, a PE ratio of 26.18, a PEG ratio of 2.18 and a beta of 0.86.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, January 30th. The electronics maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.40. Dolby Laboratories had a return on equity of 11.30% and a net margin of 25.47%. The business had revenue of $302.40 million during the quarter, compared to analysts’ expectations of $295.04 million. During the same quarter in the prior year, the firm earned ($0.80) EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Dolby Laboratories will post 2.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 21st. Shareholders of record on Tuesday, February 12th will be issued a $0.19 dividend. The ex-dividend date is Monday, February 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.21%. Dolby Laboratories’s payout ratio is presently 31.67%.
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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