Dolby Laboratories (NYSE:DLB) Receives Outperform Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Dolby Laboratories (NYSE:DLB - Free Report) in a research report report published on Friday,Benzinga reports. They currently have a $100.00 price objective on the electronics maker's stock.

A number of other analysts have also recently commented on DLB. Rosenblatt Securities lowered their price target on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $0.62 during mid-day trading on Friday, hitting $73.64. 118,366 shares of the stock were exchanged, compared to its average volume of 451,756. The company has a market cap of $7.03 billion, a P/E ratio of 27.11 and a beta of 0.95. Dolby Laboratories has a twelve month low of $66.35 and a twelve month high of $89.66. The stock's fifty day simple moving average is $77.46 and its two-hundred day simple moving average is $78.34.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.05. The firm had revenue of $369.56 million during the quarter, compared to analysts' expectations of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. Dolby Laboratories's revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 EPS. As a group, equities research analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, May 13th. Dolby Laboratories's payout ratio is currently 49.81%.

Insider Buying and Selling at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. The trade was a 32.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 38.39% of the company's stock.

Institutional Trading of Dolby Laboratories

Several large investors have recently modified their holdings of the stock. Savant Capital LLC boosted its holdings in shares of Dolby Laboratories by 2.0% in the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after purchasing an additional 125 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Dolby Laboratories by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock valued at $1,525,000 after buying an additional 132 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker's stock worth $201,000 after acquiring an additional 136 shares during the last quarter. Securian Asset Management Inc. grew its stake in shares of Dolby Laboratories by 3.0% in the first quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker's stock worth $373,000 after purchasing an additional 137 shares during the last quarter. Finally, Mather Group LLC. raised its position in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after purchasing an additional 142 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

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.