Dolby Laboratories (NYSE:DLB) has been given a $66.00 price target by investment analysts at B. Riley in a report issued on Thursday. The firm currently has a “buy” rating on the electronics maker’s stock. B. Riley’s price target suggests a potential upside of 10.42% from the stock’s current price.
Other analysts have also issued reports about the company. Dougherty & Co restated a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. BidaskClub lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $60.33.
Dolby Laboratories (NYSE DLB) opened at 59.77 on Thursday. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $60.49. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 30.57 and a beta of 0.85. The company has a 50-day moving average of $56.92 and a 200-day moving average of $52.44.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. The company had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $296.88 million. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. Analysts predict that Dolby Laboratories will post $1.99 EPS for the current year.
In related news, insider Kevin J. Yeaman sold 45,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $56.46, for a total value of $2,540,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $52.22, for a total value of $5,222,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,465,310 shares of company stock valued at $74,479,700. 43.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its position in Dolby Laboratories by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 310,210 shares of the electronics maker’s stock worth $15,188,000 after purchasing an additional 12,045 shares during the period. Skylands Capital LLC acquired a new stake in Dolby Laboratories in the second quarter worth about $759,000. Principal Financial Group Inc. increased its position in Dolby Laboratories by 11.7% in the second quarter. Principal Financial Group Inc. now owns 32,427 shares of the electronics maker’s stock worth $1,588,000 after purchasing an additional 3,396 shares during the period. UBS Asset Management Americas Inc. increased its position in Dolby Laboratories by 3.8% in the second quarter. UBS Asset Management Americas Inc. now owns 154,119 shares of the electronics maker’s stock worth $7,546,000 after purchasing an additional 5,696 shares during the period. Finally, Victory Capital Management Inc. increased its position in Dolby Laboratories by 21.3% in the second quarter. Victory Capital Management Inc. now owns 42,488 shares of the electronics maker’s stock worth $2,080,000 after purchasing an additional 7,447 shares during the period. Hedge funds and other institutional investors own 51.87% 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.
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