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

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

Other research analysts have also issued reports about the company. StockNews.com lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Rosenblatt Securities lowered their target price on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $0.20 during trading on Friday, reaching $74.67. The stock had a trading volume of 488,657 shares, compared to its average volume of 453,240. The stock has a market cap of $7.13 billion, a PE ratio of 27.45 and a beta of 0.94. Dolby Laboratories has a one year low of $66.35 and a one year high of $89.66. The firm's 50 day moving average price is $77.73 and its two-hundred day moving average price is $78.37.

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

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories's dividend payout ratio is presently 48.53%.

Insider Activity at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 38.39% of the company's stock.

Hedge Funds Weigh In On Dolby Laboratories

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after purchasing an additional 1,887,518 shares in the last quarter. Norges Bank purchased a new position in shares of Dolby Laboratories in the fourth quarter worth approximately $55,356,000. Alyeska Investment Group L.P. acquired a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $27,314,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Dolby Laboratories in the 4th quarter valued at approximately $24,323,000. Finally, Oberweis Asset Management Inc. acquired a new position in Dolby Laboratories in the 4th quarter worth approximately $14,136,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

About Dolby Laboratories

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.