Brokerages Set Dolby Laboratories, Inc. (NYSE:DLB) Price Target at $84.00


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Dolby Laboratories, Inc. (NYSE:DLB) has been given an average recommendation of “Hold” by the six brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $84.00.

DLB has been the subject of several recent research reports. Barrington Research cut Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 26th. B. Riley boosted their target price on Dolby Laboratories from $79.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, January 29th. Tigress Financial restated a “buy” rating on shares of Dolby Laboratories in a research note on Thursday, February 25th. Finally, Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating and set a $98.00 target price for the company in a research note on Tuesday, February 23rd.

In other news, Director Avadis Tevanian sold 1,814 shares of the business’s stock in a transaction that occurred on Tuesday, February 2nd. The stock was sold at an average price of $90.00, for a total value of $163,260.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 29,457 shares of the business’s stock in a transaction that occurred on Tuesday, April 13th. The shares were sold at an average price of $101.44, for a total value of $2,988,118.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,454 shares of company stock worth $13,175,193. 37.30% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc raised its position in Dolby Laboratories by 69.2% in the fourth quarter. NEXT Financial Group Inc now owns 269 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Childress Capital Advisors LLC acquired a new stake in Dolby Laboratories in the fourth quarter valued at $48,000. Harvest Fund Management Co. Ltd lifted its holdings in Dolby Laboratories by 47.5% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 534 shares of the electronics maker’s stock valued at $51,000 after acquiring an additional 172 shares during the period. TD Ameritrade Investment Management LLC acquired a new stake in Dolby Laboratories in the fourth quarter valued at $54,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Dolby Laboratories by 497.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 693 shares of the electronics maker’s stock valued at $67,000 after acquiring an additional 577 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

NYSE DLB traded down $0.89 during trading on Wednesday, hitting $101.21. The stock had a trading volume of 385,408 shares, compared to its average volume of 496,963. The firm has a 50 day moving average price of $99.57 and a 200 day moving average price of $89.84. The company has a market capitalization of $10.28 billion, a PE ratio of 45.38, a PEG ratio of 3.27 and a beta of 0.89. Dolby Laboratories has a twelve month low of $52.13 and a twelve month high of $103.88.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, January 28th. The electronics maker reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.62. The business had revenue of $389.87 million during the quarter, compared to analysts’ expectations of $345.33 million. Dolby Laboratories had a return on equity of 9.89% and a net margin of 19.91%. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, equities research analysts forecast that Dolby Laboratories will post 2.24 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 19th. Shareholders of record on Tuesday, February 9th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, February 8th. Dolby Laboratories’s dividend payout ratio (DPR) is 38.26%.

Dolby Laboratories Company Profile

Dolby Laboratoties, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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