Dolby Laboratories (NYSE:DLB) Given New $95.00 Price Target at Rosenblatt Securities

Dolby Laboratories (NYSE:DLB - Free Report) had its price objective trimmed by Rosenblatt Securities from $100.00 to $95.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the electronics maker's stock.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Barrington Research restated an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Trading Up 0.3 %

NYSE:DLB traded up $0.23 during trading hours on Friday, reaching $74.49. 107,404 shares of the company traded hands, compared to its average volume of 451,617. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $89.66. The business's 50-day moving average price is $77.46 and its two-hundred day moving average price is $78.34. The stock has a market capitalization of $7.11 billion, a P/E ratio of 27.39 and a beta of 0.95.

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 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 net margin of 19.97% and a return on equity of 11.32%. Dolby Laboratories's revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. As a group, equities analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th will be given a $0.33 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 annualized dividend and a yield of 1.77%. Dolby Laboratories's payout ratio is presently 49.81%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the sale, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 38.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Dolby Laboratories

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dolby Laboratories by 4.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,190 shares of the electronics maker's stock valued at $1,220,000 after acquiring an additional 674 shares during the period. TD Asset Management Inc purchased a new position in Dolby Laboratories in the 1st quarter worth approximately $948,000. Pacer Advisors Inc. boosted its stake in Dolby Laboratories by 294.9% in the 1st quarter. Pacer Advisors Inc. now owns 162,787 shares of the electronics maker's stock worth $13,073,000 after purchasing an additional 121,564 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $559,000. Finally, Assetmark Inc. lifted its holdings in shares of Dolby Laboratories by 21.8% in the first quarter. Assetmark Inc. now owns 25,178 shares of the electronics maker's stock worth $2,022,000 after buying an additional 4,499 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

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.