Dolby Laboratories (NYSE:DLB) SVP Bob Borchers sold 33,179 shares of Dolby Laboratories stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $61.74, for a total value of $2,048,471.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bob Borchers also recently made the following trade(s):

  • On Wednesday, November 15th, Bob Borchers sold 50,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $61.00, for a total value of $3,050,000.00.
  • On Friday, November 17th, Bob Borchers sold 116,821 shares of Dolby Laboratories stock. The shares were sold at an average price of $61.15, for a total value of $7,143,604.15.

Dolby Laboratories (DLB) opened at $63.25 on Friday. The stock has a market capitalization of $6,413.02, a PE ratio of 30.22, a PEG ratio of 2.33 and a beta of 0.83. Dolby Laboratories has a 52 week low of $44.98 and a 52 week high of $63.34.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.62% and a net margin of 18.66%. The business had revenue of $242.05 million during the quarter, compared to analysts’ expectations of $244.80 million. During the same quarter last year, the business posted $0.37 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. analysts expect that Dolby Laboratories will post 2.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, November 3rd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.14. Dolby Laboratories’s dividend payout ratio (DPR) is 32.99%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Dolby Laboratories by 5.9% during the 3rd quarter. California Public Employees Retirement System now owns 189,521 shares of the electronics maker’s stock worth $10,901,000 after acquiring an additional 10,521 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Dolby Laboratories by 24.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 20,883 shares of the electronics maker’s stock worth $1,201,000 after acquiring an additional 4,076 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Dolby Laboratories during the 3rd quarter worth about $254,000. Janus Henderson Group PLC raised its position in shares of Dolby Laboratories by 352.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock worth $152,875,000 after acquiring an additional 2,069,849 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Dolby Laboratories during the 3rd quarter worth about $4,531,000. 52.45% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on DLB. B. Riley reiterated a “buy” rating and issued a $61.50 price objective on shares of Dolby Laboratories in a research note on Thursday, September 14th. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 price objective (up previously from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Dougherty & Co reiterated a “buy” rating and issued a $63.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Finally, Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Dolby Laboratories presently has a consensus rating of “Hold” and an average price target of $60.17.

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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.

Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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