Dougherty & Co reiterated their buy rating on shares of Dolby Laboratories (NYSE:DLB) in a report published on Wednesday. They currently have a $63.00 price objective on the electronics maker’s stock.

Several other analysts also recently commented on DLB. B. Riley restated a buy rating and set a $61.50 target price on shares of Dolby Laboratories in a report on Friday, July 28th. Piper Jaffray Companies restated a hold rating and set a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a report on Wednesday. BidaskClub upgraded shares of Dolby Laboratories from a sell rating to a hold rating in a report on Saturday, July 8th. Finally, Zacks Investment Research upgraded shares of Dolby Laboratories from a sell rating to a hold rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Dolby Laboratories currently has an average rating of Hold and a consensus target price of $57.30.

Shares of Dolby Laboratories (NYSE DLB) opened at 58.29 on Wednesday. The stock’s 50 day moving average is $51.12 and its 200-day moving average is $51.12. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $59.79. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 29.82 and a beta of 0.81.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $305.67 million for the quarter, compared to the consensus estimate of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. Dolby Laboratories’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. On average, analysts anticipate that Dolby Laboratories will post $1.99 EPS for the current fiscal year.

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In other news, insider Kevin J. Yeaman sold 10,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $52.22, for a total transaction of $5,222,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,419,000 shares of company stock worth $71,701,100 over the last 90 days. Corporate insiders own 43.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Watermark Asset Management Inc. acquired a new stake in shares of Dolby Laboratories in the first quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after purchasing an additional 209 shares during the last quarter. US Bancorp DE raised its holdings in shares of Dolby Laboratories by 2.6% in the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after purchasing an additional 78 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Dolby Laboratories by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after purchasing an additional 725 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Dolby Laboratories by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock valued at $227,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 51.88% of the company’s stock.

Dolby Laboratories Company Profile

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.

Analyst Recommendations for Dolby Laboratories (NYSE:DLB)

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