Rosenblatt Securities Has Lowered Expectations for Dolby Laboratories (NYSE:DLB) Stock Price

Dolby Laboratories (NYSE:DLB - Get Free Report) had its price objective reduced by stock analysts at Rosenblatt Securities from $100.00 to $95.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the electronics maker's stock. Rosenblatt Securities' target price would indicate a potential upside of 24.64% from the stock's previous close.

DLB has been the subject of a number of other reports. Barrington Research restated an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, February 13th. StockNews.com lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $76.22 on Friday. The firm has a market capitalization of $7.27 billion, a P/E ratio of 28.02 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 business has a fifty day moving average price of $77.87 and a 200-day moving average price of $78.30.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The business had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same quarter last year, the company earned $1.27 EPS. The firm's revenue was up 1.4% compared to the same quarter last year. Sell-side analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds have recently made changes to their positions in DLB. Alpine Bank Wealth Management purchased a new position in Dolby Laboratories in the 1st quarter worth $25,000. Fifth Third Bancorp grew its stake in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after buying an additional 163 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after buying an additional 301 shares during the period. Mather Group LLC. lifted its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after acquiring an additional 142 shares during the last quarter. Finally, Global X Japan Co. Ltd. purchased a new stake in Dolby Laboratories during the 1st quarter valued at about $51,000. 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.

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