Rosenblatt Securities Reiterates Buy Rating for Dolby Laboratories (NYSE:DLB)

Rosenblatt Securities restated their buy rating on shares of Dolby Laboratories (NYSE:DLB - Free Report) in a research note released on Monday morning, Benzinga reports. Rosenblatt Securities currently has a $98.00 price target on the electronics maker's stock.

Separately, StockNews.com raised Dolby Laboratories from a hold rating to a buy rating in a research note on Friday, February 2nd.

Dolby Laboratories Price Performance

NYSE:DLB traded up $0.17 during mid-day trading on Monday, reaching $79.37. The stock had a trading volume of 299,137 shares, compared to its average volume of 362,008. The stock has a market cap of $7.59 billion, a P/E ratio of 41.12 and a beta of 0.97. The business's 50 day moving average is $81.65 and its 200 day moving average is $83.30. Dolby Laboratories has a fifty-two week low of $75.87 and a fifty-two week high of $91.01.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping the consensus estimate of $0.62 by $0.14. The company had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. Equities analysts expect that Dolby Laboratories will post 2.6 EPS for the current year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were issued a $0.30 dividend. The ex-dividend date was Monday, February 12th. This represents a $1.20 annualized dividend and a yield of 1.51%. Dolby Laboratories's dividend payout ratio (DPR) is presently 62.18%.

Insiders Place Their Bets

In other news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 39.54% of the company's stock.

Institutional Investors Weigh In On Dolby Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of DLB. Tower Research Capital LLC TRC grew its position in Dolby Laboratories by 1.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker's stock worth $754,000 after purchasing an additional 118 shares during the last quarter. NEOS Investment Management LLC grew its holdings in Dolby Laboratories by 5.0% during the 4th quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker's stock worth $233,000 after acquiring an additional 129 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Dolby Laboratories by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker's stock valued at $2,126,000 after acquiring an additional 133 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Dolby Laboratories by 1.4% in the fourth quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker's stock worth $814,000 after acquiring an additional 134 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Dolby Laboratories by 0.8% during the third quarter. Arizona State Retirement System now owns 16,918 shares of the electronics maker's stock worth $1,341,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds 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.