Shares of Dolby Laboratories, Inc. (NYSE:DLB) have been assigned an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $62.00.
DLB has been the topic of a number of research reports. B. Riley reaffirmed a “buy” rating and issued a $65.50 price target on shares of Dolby Laboratories in a report on Thursday, October 26th. Zacks Investment Research cut shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th.
In other Dolby Laboratories news, insider Kevin J. Yeaman sold 68,548 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $59.66, for a total transaction of $4,089,573.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Bob Borchers sold 148,361 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $62.15, for a total transaction of $9,220,636.15. The disclosure for this sale can be found here. Insiders have sold a total of 649,085 shares of company stock worth $40,507,528 in the last three months. Insiders own 43.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of DLB. Tyers Asset Management LLC bought a new stake in Dolby Laboratories during the 4th quarter valued at $102,000. Captrust Financial Advisors bought a new stake in Dolby Laboratories during the 4th quarter valued at $122,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Dolby Laboratories during the 4th quarter valued at $145,000. The Manufacturers Life Insurance Company raised its holdings in Dolby Laboratories by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares during the period. Finally, Meadow Creek Investment Management LLC bought a new stake in Dolby Laboratories during the 4th quarter valued at $179,000. 53.79% of the stock is currently owned by institutional investors and hedge funds.
Dolby Laboratories (NYSE DLB) traded down $0.04 during trading hours on Monday, hitting $62.28. 104,295 shares of the company were exchanged, compared to its average volume of 431,956. The company has a market cap of $6,577.92, a PE ratio of 98.92, a PEG ratio of 5.35 and a beta of 0.78. Dolby Laboratories has a 52 week low of $48.00 and a 52 week high of $74.29.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.35. The company had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $265.75 million. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. Dolby Laboratories’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. research analysts expect that Dolby Laboratories will post 0.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. Dolby Laboratories’s payout ratio is 101.59%.
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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.
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