Dolby Laboratories, Inc. (DLB) Receives $76.50 Average Price Target from Analysts

Shares of Dolby Laboratories, Inc. (NYSE:DLB) have earned an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $76.50.

DLB has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Barrington Research reissued a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 31st. Finally, ValuEngine lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, April 1st.

In other news, insider Kevin J. Yeaman sold 67,708 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $64.68, for a total value of $4,379,353.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dagmar Dolby sold 69,885 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $65.32, for a total transaction of $4,564,888.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,067,108 shares of company stock valued at $69,554,788. Company insiders own 40.23% of the company’s stock.

Several large investors have recently modified their holdings of DLB. Penserra Capital Management LLC acquired a new stake in shares of Dolby Laboratories in the 4th quarter worth approximately $27,000. Essex Savings Bank acquired a new stake in Dolby Laboratories during the fourth quarter valued at approximately $28,000. Cutler Group LP acquired a new stake in Dolby Laboratories during the fourth quarter valued at approximately $30,000. Enlightenment Research LLC acquired a new stake in Dolby Laboratories during the fourth quarter valued at approximately $31,000. Finally, Metropolitan Life Insurance Co NY lifted its stake in Dolby Laboratories by 28.3% during the first quarter. Metropolitan Life Insurance Co NY now owns 1,966 shares of the electronics maker’s stock valued at $38,000 after purchasing an additional 434 shares during the last quarter. 55.59% of the stock is owned by institutional investors.

Dolby Laboratories stock traded down $0.22 during midday trading on Wednesday, reaching $62.00. 256,322 shares of the stock traded hands, compared to its average volume of 455,609. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.01 and a beta of 0.86. Dolby Laboratories has a fifty-two week low of $58.17 and a fifty-two week high of $72.04.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, May 1st. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $338.26 million during the quarter, compared to analyst estimates of $337.45 million. Dolby Laboratories had a net margin of 24.93% and a return on equity of 11.12%. Dolby Laboratories’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. Research analysts anticipate that Dolby Laboratories will post 2.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, May 13th. Dolby Laboratories’s dividend payout ratio is currently 31.67%.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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