Dolby Laboratories Inc. (NYSE:DLB) has earned an average rating of “Hold” from the seven ratings firms that are covering the company. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $50.25.
Several research firms have recently weighed in on DLB. B. Riley reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Dolby Laboratories in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. began coverage on Dolby Laboratories in a research report on Tuesday. They set a “neutral” rating and a $51.00 price objective for the company. Dougherty & Co upped their price objective on Dolby Laboratories from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 28th.
Shares of Dolby Laboratories (NYSE:DLB) traded down 0.49% on Friday, reaching $54.69. The company’s stock had a trading volume of 209,318 shares. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 26.68 and a beta of 0.57. The company’s 50 day moving average is $51.37 and its 200-day moving average is $47.72. Dolby Laboratories has a 1-year low of $30.38 and a 1-year high of $55.02.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, July 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.25. Dolby Laboratories had a return on equity of 10.19% and a net margin of 20.19%. The firm earned $277.60 million during the quarter, compared to analysts’ expectations of $268.04 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. Equities research analysts expect that Dolby Laboratories will post $1.79 EPS for the current year.
In other Dolby Laboratories news, insider Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $50.24, for a total value of $2,512,000.00. The disclosure for this sale can be found here. 45.16% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in Dolby Laboratories by 75.4% in the first quarter. Renaissance Technologies LLC now owns 696,300 shares of the company’s stock worth $30,261,000 after buying an additional 299,400 shares during the period. Calamos Advisors LLC bought a new position in Dolby Laboratories during the second quarter worth about $19,638,000. Envestnet Asset Management Inc. increased its position in Dolby Laboratories by 5.7% in the first quarter. Envestnet Asset Management Inc. now owns 29,154 shares of the company’s stock worth $1,267,000 after buying an additional 1,567 shares during the period. K.J. Harrison & Partners Inc bought a new position in Dolby Laboratories during the second quarter worth about $479,000. Finally, Loomis Sayles & Co. L P bought a new position in Dolby Laboratories during the first quarter worth about $586,000. Institutional investors and hedge funds own 49.40% of the company’s stock.