Dolby Laboratories, Inc. (DLB) CMO Bob Borchers Sells 50,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CMO Bob Borchers sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $61.00, for a total value of $3,050,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bob Borchers also recently made the following trade(s):

  • On Friday, November 17th, Bob Borchers sold 116,821 shares of Dolby Laboratories stock. The stock was sold at an average price of $61.15, for a total value of $7,143,604.15.

Shares of Dolby Laboratories, Inc. (NYSE:DLB) traded up $0.54 during midday trading on Friday, hitting $61.49. The stock had a trading volume of 351,419 shares, compared to its average volume of 386,535. The company has a market capitalization of $6,220.00, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.29 and a beta of 0.82. Dolby Laboratories, Inc. has a one year low of $44.98 and a one year high of $61.59.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. The company had revenue of $242.05 million for the quarter, compared to analyst estimates of $244.80 million. Dolby Laboratories had a return on equity of 4.11% and a net margin of 9.06%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. equities analysts anticipate that Dolby Laboratories, Inc. will post 2.22 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, November 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.14. Dolby Laboratories’s dividend payout ratio is currently 32.99%.

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A number of equities analysts have recently weighed in on the company. B. Riley reiterated a “dlb (” rating and set a $61.50 target price on shares of Dolby Laboratories in a research note on Wednesday, August 23rd. Zacks Investment Research lowered Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 31st. BidaskClub lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Piper Jaffray Companies reiterated a “hold” rating and set a $52.00 target price (up previously from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Finally, Dougherty & Co reiterated a “buy” rating and set a $63.00 target price on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.17.

A number of large investors have recently modified their holdings of DLB. Spot Trading L.L.C. acquired a new stake in Dolby Laboratories during the first quarter worth approximately $660,000. Ameriprise Financial Inc. grew its position in Dolby Laboratories by 0.4% during the first quarter. Ameriprise Financial Inc. now owns 15,650 shares of the electronics maker’s stock worth $821,000 after buying an additional 61 shares in the last quarter. Wellington Management Group LLP grew its position in Dolby Laboratories by 1.2% during the first quarter. Wellington Management Group LLP now owns 19,240 shares of the electronics maker’s stock worth $1,008,000 after buying an additional 219 shares in the last quarter. Teachers Advisors LLC grew its position in Dolby Laboratories by 5.5% during the first quarter. Teachers Advisors LLC now owns 138,445 shares of the electronics maker’s stock worth $7,256,000 after buying an additional 7,209 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Dolby Laboratories by 129.3% during the first quarter. Legal & General Group Plc now owns 18,387 shares of the electronics maker’s stock worth $964,000 after buying an additional 10,368 shares in the last quarter. 51.71% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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