Barrington Research Reiterates “Outperform” Rating for Dolby Laboratories (NYSE:DLB)

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating restated by investment analysts at Barrington Research in a research note issued on Thursday,Benzinga reports. They currently have a $100.00 target price on the electronics maker’s stock. Barrington Research’s price objective indicates a potential upside of 20.48% from the company’s current price.

DLB has been the topic of a number of other reports. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th.

Dolby Laboratories Trading Down 0.6 %

Shares of DLB opened at $83.00 on Thursday. The stock has a 50 day moving average of $80.07 and a 200 day moving average of $76.00. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 30.51 and a beta of 0.98. Dolby Laboratories has a 12 month low of $66.35 and a 12 month high of $89.66.

Insider Buying and Selling at Dolby Laboratories

In other news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares in the company, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,548,752.24. This represents a 31.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,917 shares of company stock worth $14,861,429 over the last ninety days. 38.39% of the stock is currently owned by company insiders.

Institutional Trading of Dolby Laboratories

A number of institutional investors have recently added to or reduced their stakes in DLB. Fifth Third Bancorp increased its position in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC grew its stake in Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 301 shares in the last quarter. Mather Group LLC. grew its stake in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares in the last quarter. Headlands Technologies LLC bought a new stake in Dolby Laboratories during the 4th quarter worth approximately $57,000. Finally, First Horizon Advisors Inc. lifted its stake in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.