Dolby Laboratories (NYSE:DLB) Price Target Raised to $114.00

Key Points

• Tigress Financial raised its price target for Dolby Laboratories from $112.00 to $114.00, suggesting a potential upside of 56.96% from the stock's previous close.
• Dolby reported $0.78 earnings per share for the last quarter, exceeding analysts' expectations, with revenue of $315.55 million reflecting a 9.2% year-over-year increase.
• Insiders sold over 141,000 shares of Dolby stock in the past ninety days, indicating a decrease in ownership among company executives.

Dolby Laboratories (NYSE:DLB - Free Report) had its price target hoisted by Tigress Financial from $112.00 to $114.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the electronics maker's stock.

Several other research firms have also commented on DLB. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, May 2nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a report on Friday, August 1st. Finally, Wall Street Zen lowered shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Dolby Laboratories currently has a consensus rating of "Buy" and an average target price of $103.00.

Dolby Laboratories Price Performance

NYSE:DLB traded down $0.3670 during mid-day trading on Friday, hitting $73.4330. The company's stock had a trading volume of 511,476 shares, compared to its average volume of 428,494. Dolby Laboratories has a 1 year low of $68.24 and a 1 year high of $89.66. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 26.90 and a beta of 0.91. The business's fifty day moving average is $74.37 and its two-hundred day moving average is $76.83.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The company had revenue of $315.55 million for the quarter, compared to analyst estimates of $305.23 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm's revenue was up 9.2% on a year-over-year basis. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. Analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.8%. Dolby Laboratories's dividend payout ratio is 48.35%.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 39,875 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total value of $2,983,447.50. Following the completion of the transaction, the chief executive officer owned 114,725 shares in the company, valued at approximately $8,583,724.50. This represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Andrew Sherman sold 15,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the completion of the transaction, the executive vice president owned 62,397 shares of the company's stock, valued at approximately $4,681,022.94. This trade represents a 19.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,049 shares of company stock valued at $10,521,141. Insiders own 38.39% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Alpine Bank Wealth Management acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $27,000. MAI Capital Management raised its position in shares of Dolby Laboratories by 87.1% during the 1st quarter. MAI Capital Management now owns 348 shares of the electronics maker's stock worth $28,000 after purchasing an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $29,000. Finally, Allworth Financial LP raised its position in shares of Dolby Laboratories by 590.4% during the 2nd quarter. Allworth Financial LP now owns 504 shares of the electronics maker's stock worth $37,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

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.