Dolby Laboratories, Inc. (NYSE:DLB) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $62.00.
Several research analysts have recently weighed in on DLB shares. B. Riley reaffirmed a “buy” rating and issued a $65.50 price target on shares of Dolby Laboratories in a report on Thursday, October 26th. Zacks Investment Research cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. increased their target price on Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th.
In related news, Director N William Jasper, Jr. sold 20,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $66.72, for a total value of $1,334,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Andrew Sherman sold 10,000 shares of the stock in a transaction on Friday, January 12th. The shares were sold at an average price of $65.00, for a total value of $650,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 649,085 shares of company stock worth $40,507,528. 43.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DLB. Tyers Asset Management LLC purchased a new stake in Dolby Laboratories during the fourth quarter valued at about $102,000. Captrust Financial Advisors purchased a new stake in Dolby Laboratories during the fourth quarter valued at about $122,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Dolby Laboratories during the fourth quarter valued at about $145,000. The Manufacturers Life Insurance Company boosted its position in Dolby Laboratories by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after buying an additional 725 shares during the period. Finally, Meadow Creek Investment Management LLC purchased a new stake in Dolby Laboratories during the fourth quarter valued at about $179,000. Institutional investors and hedge funds own 52.74% of the company’s stock.
Dolby Laboratories (DLB) opened at $63.37 on Monday. The firm has a market cap of $6,560.00, a price-to-earnings ratio of 100.59, a PEG ratio of 5.33 and a beta of 0.78. Dolby Laboratories has a 1-year low of $48.00 and a 1-year high of $74.29.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.35. The firm had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $265.75 million. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. equities analysts predict that Dolby Laboratories will post 0.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were paid a $0.16 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.01%. Dolby Laboratories’s dividend payout ratio is presently 101.59%.
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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