Dolby Laboratories (NYSE:DLB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Dolby Laboratories (NYSE:DLB) have received an average rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $90.75.

Several analysts have commented on DLB shares. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a report on Friday, January 30th. Wall Street Zen downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Friday, March 27th. Finally, Barrington Research dropped their target price on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, January 26th.

Insider Buying and Selling

In other news, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total value of $198,420.00. Following the sale, the senior vice president directly owned 83,218 shares in the company, valued at $5,504,038.52. This trade represents a 3.48% 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, CAO Ryan Nicholson sold 2,667 shares of Dolby Laboratories stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $66.38, for a total transaction of $177,035.46. Following the completion of the sale, the chief accounting officer owned 36,956 shares in the company, valued at $2,453,139.28. This trade represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 37.93% of the stock is owned by company insiders.

Institutional Trading of Dolby Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Boothbay Fund Management LLC raised its holdings in shares of Dolby Laboratories by 4.1% in the second quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker’s stock valued at $299,000 after purchasing an additional 157 shares during the last quarter. Covestor Ltd raised its holdings in shares of Dolby Laboratories by 6.0% in the fourth quarter. Covestor Ltd now owns 3,088 shares of the electronics maker’s stock valued at $198,000 after purchasing an additional 175 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Dolby Laboratories by 34.7% in the fourth quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock valued at $48,000 after purchasing an additional 192 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Dolby Laboratories by 0.4% in the third quarter. Gabelli Funds LLC now owns 49,143 shares of the electronics maker’s stock valued at $3,556,000 after purchasing an additional 202 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Dolby Laboratories by 166.7% in the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $63.02 on Friday. The company has a market capitalization of $6.02 billion, a P/E ratio of 25.41 and a beta of 0.86. The company’s 50 day moving average price is $62.71 and its two-hundred day moving average price is $64.79. Dolby Laboratories has a 52 week low of $57.62 and a 52 week high of $78.28.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $346.71 million for the quarter, compared to the consensus estimate of $341.26 million. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. Analysts forecast that Dolby Laboratories will post 3.18 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were issued a $0.36 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. Dolby Laboratories’s dividend payout ratio (DPR) is 58.06%.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.