Dolby Laboratories, Inc. (DLB) Receives $53.33 Consensus Price Target from Analysts
Shares of Dolby Laboratories, Inc. (NYSE:DLB) have received a consensus recommendation of “Hold” from the six brokerages that are covering the stock. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $53.33.
Several research analysts have recently commented on DLB shares. Zacks Investment Research lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. B. Riley reaffirmed a “neutral” rating and set a $49.00 price objective on shares of Dolby Laboratories in a report on Monday, January 23rd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $46.00 price objective on shares of Dolby Laboratories in a report on Friday, January 20th.
In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,409 shares of the stock in a transaction on Monday, January 30th. The shares were sold at an average price of $47.60, for a total value of $590,668.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin J. Yeaman sold 5,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,984 shares of company stock valued at $2,344,293. 43.80% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. FNY Partners Fund LP bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $136,000. Whittier Trust Co. bought a new stake in shares of Dolby Laboratories during the third quarter worth $163,000. US Bancorp DE increased its stake in shares of Dolby Laboratories by 5.7% in the third quarter. US Bancorp DE now owns 3,316 shares of the electronics maker’s stock worth $180,000 after buying an additional 178 shares during the period. Advisor Group Inc. increased its stake in shares of Dolby Laboratories by 8.0% in the third quarter. Advisor Group Inc. now owns 3,798 shares of the electronics maker’s stock worth $207,000 after buying an additional 280 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Dolby Laboratories by 9.3% in the third quarter. Pacer Advisors Inc. now owns 4,227 shares of the electronics maker’s stock worth $229,000 after buying an additional 360 shares during the period. 51.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Dolby Laboratories (NYSE:DLB) traded up 0.98% during trading on Monday, hitting $51.64. The company’s stock had a trading volume of 260,816 shares. Dolby Laboratories has a 52 week low of $42.15 and a 52 week high of $55.02. The firm’s 50 day moving average price is $51.22 and its 200-day moving average price is $49.09. The company has a market cap of $5.30 billion, a PE ratio of 25.58 and a beta of 0.54.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, January 25th. The electronics maker reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.14. Dolby Laboratories had a net margin of 19.82% and a return on equity of 10.87%. The company had revenue of $266.30 million for the quarter, compared to analyst estimates of $255.12 million. During the same quarter in the prior year, the business posted $0.48 EPS. Dolby Laboratories’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.93 earnings per share for the current year.
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About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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