Shares of Dolby Laboratories, Inc. (NYSE:DLB) have earned an average rating of "Hold" from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $84.67.
A number of brokerages have recently commented on DLB. Barrington Research lowered shares of Dolby Laboratories from an "outperform" rating to a "market perform" rating in a research report on Tuesday, January 26th. Zacks Investment Research raised shares of Dolby Laboratories from a "strong sell" rating to a "hold" rating and set a $100.00 price objective for the company in a research report on Wednesday, January 13th. Finally, B. Riley upped their price objective on shares of Dolby Laboratories from $79.00 to $89.00 and gave the company a "neutral" rating in a research report on Friday, January 29th.
In other news, CEO Kevin J. Yeaman sold 11,539 shares of the stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $90.76, for a total transaction of $1,047,279.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Steven E. Forshay sold 834 shares of the stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $92.00, for a total transaction of $76,728.00. The disclosure for this sale can be found here. Insiders have sold 164,575 shares of company stock worth $15,089,920 over the last ninety days. Insiders own 37.30% of the company's stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DLB. Jackson Square Partners LLC bought a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $210,338,000. Victory Capital Management Inc. lifted its holdings in Dolby Laboratories by 658.7% in the fourth quarter. Victory Capital Management Inc. now owns 706,047 shares of the electronics maker's stock valued at $68,579,000 after buying an additional 612,992 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Dolby Laboratories by 2,374.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 434,843 shares of the electronics maker's stock valued at $42,236,000 after buying an additional 417,273 shares during the period. Sei Investments Co. lifted its holdings in Dolby Laboratories by 610.2% in the fourth quarter. Sei Investments Co. now owns 385,440 shares of the electronics maker's stock valued at $37,426,000 after buying an additional 331,168 shares during the period. Finally, BlackRock Inc. lifted its holdings in Dolby Laboratories by 9.7% in the fourth quarter. BlackRock Inc. now owns 3,687,383 shares of the electronics maker's stock valued at $358,155,000 after buying an additional 326,910 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of DLB opened at $93.68 on Tuesday. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 41.64, a price-to-earnings-growth ratio of 3.27 and a beta of 0.89. Dolby Laboratories has a 12 month low of $44.68 and a 12 month high of $97.78. The company's fifty day moving average is $93.32 and its 200-day moving average is $81.48.
Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, January 28th. The electronics maker reported $1.48 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.86 by $0.62. The firm had revenue of $389.87 million during the quarter, compared to analyst estimates of $345.33 million. Dolby Laboratories had a net margin of 19.91% and a return on equity of 9.89%. The business's revenue was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Research analysts anticipate that Dolby Laboratories will post 2.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 19th. Shareholders of record on Tuesday, February 9th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, February 8th. This represents a $0.88 annualized dividend and a yield of 0.94%. Dolby Laboratories's dividend payout ratio is 38.26%.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. 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 media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.
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