Dolby Laboratories, Inc. creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment 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 various media devices; Dolby AC-4, an digital 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. Its audio technologies also include Dolby Digital, a digital audio coding technology that provides multichannel sound to applications; Dolby Digital Plus, a digital audio coding technology that offers audio transmission for a range of media applications and devices; Dolby TrueHD, a digital audio coding technology providing encoding for media application; Dolby Vision, an imaging technology for cinema and media devices; Dolby Voice, an audio conferencing technology; and HEVC, a digital video codec with high bandwidth efficiency to support for media devices. In addition, the company designs and manufactures digital cinema servers, cinema processors, amplifiers, loudspeakers, hardware components, video conferencing solutions, and other products for the cinema, television, broadcast, communication, and entertainment industries. Further, it offers various services to support theatrical and television production for cinema exhibition, broadcast, and home entertainment. The company serves film studios, content creators, post-production facilities, cinema operators, broadcasters, and video game designers. It sells its products directly to the end users, as well as through dealers and distributors worldwide. Dolby Laboratories, Inc. was founded in 1965 and is headquartered in San Francisco, California.
Dolby Laboratories Trading Up 1.8 %
Shares of DLB Stock opened at $80.75 on Friday. Dolby Laboratories has a 12 month low of $69.18 and a 12 month high of $104.25. The company has a market capitalization of $8.15 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.07 and a beta of 0.98. The stock has a 50 day moving average of $74.65 and a two-hundred day moving average of $75.90.
Dolby Laboratories (NYSE:DLB - Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The electronics maker reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.08. The firm had revenue of $289.60 million for the quarter, compared to the consensus estimate of $294.03 million. Dolby Laboratories had a net margin of 15.91% and a return on equity of 9.38%. The business's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. Sell-side analysts predict that Dolby Laboratories will post 2.4 earnings per share for the current fiscal year.
Dolby Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, August 22nd. Dolby Laboratories's payout ratio is 51.55%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on DLB. TheStreet cut Dolby Laboratories from a "b-" rating to a "c+" rating in a research report on Friday, July 1st. StockNews.com raised Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Tuesday. Barrington Research dropped their target price on shares of Dolby Laboratories from $115.00 to $90.00 in a research report on Thursday, May 12th. Finally, Rosenblatt Securities initiated coverage on shares of Dolby Laboratories in a report on Monday, May 23rd. They issued a "buy" rating and a $90.00 price target for the company. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $90.00.
Insider Buying and Selling at Dolby Laboratories
In related news, CMO Todd Pendleton sold 45,800 shares of the firm's stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $75.39, for a total transaction of $3,452,862.00. Following the completion of the transaction, the chief marketing officer now owns 37,788 shares in the company, valued at approximately $2,848,837.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Dolby Laboratories news, Director Emily Rollins sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the transaction, the director now directly owns 4,245 shares in the company, valued at $339,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Todd Pendleton sold 45,800 shares of the firm's stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $75.39, for a total transaction of $3,452,862.00. Following the sale, the chief marketing officer now directly owns 37,788 shares of the company's stock, valued at approximately $2,848,837.32. The disclosure for this sale can be found here. Company insiders own 37.06% of the company's stock.
