Dolby Laboratories, Inc. (NYSE:DLB) Receives $79.67 Consensus PT from Brokerages

Shares of Dolby Laboratories, Inc. (NYSE:DLB) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $79.67.

Several equities analysts have recently weighed in on DLB shares. Tigress Financial reiterated a “buy” rating on shares of Dolby Laboratories in a research note on Wednesday, September 18th. William Blair reiterated a “buy” rating on shares of Dolby Laboratories in a research note on Friday, August 2nd. ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Finally, B. Riley reiterated a “neutral” rating and issued a $73.00 target price (up previously from $67.00) on shares of Dolby Laboratories in a research note on Friday, August 2nd.

NYSE DLB traded up $0.07 during trading hours on Friday, reaching $64.60. 267,129 shares of the company were exchanged, compared to its average volume of 338,619. Dolby Laboratories has a 1 year low of $56.09 and a 1 year high of $71.77. The business’s 50 day simple moving average is $62.97 and its 200-day simple moving average is $63.29. The stock has a market capitalization of $6.50 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.73 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, August 1st. The electronics maker reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.11). The company had revenue of $302.16 million for the quarter, compared to analysts’ expectations of $305.29 million. Dolby Laboratories had a return on equity of 9.00% and a net margin of 21.64%. The business’s quarterly revenue was up 40.7% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts predict that Dolby Laboratories will post 2.16 EPS for the current year.

In other news, Director Ed H. Bowman, Jr. sold 2,492 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $84.52, for a total value of $210,623.84. Following the completion of the transaction, the director now directly owns 16,386 shares in the company, valued at $1,384,944.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ryan Nicholson sold 8,197 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.04, for a total transaction of $500,344.88. The disclosure for this sale can be found here. Insiders sold 490,178 shares of company stock valued at $31,598,143 over the last 90 days. 40.23% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in DLB. Berkshire Asset Management LLC PA lifted its position in Dolby Laboratories by 6.5% during the second quarter. Berkshire Asset Management LLC PA now owns 3,566 shares of the electronics maker’s stock valued at $230,000 after purchasing an additional 218 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Dolby Laboratories by 20.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the electronics maker’s stock worth $84,000 after acquiring an additional 221 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Dolby Laboratories by 2.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,707 shares of the electronics maker’s stock worth $548,000 after acquiring an additional 226 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Dolby Laboratories by 17.4% in the 2nd quarter. Signaturefd LLC now owns 1,812 shares of the electronics maker’s stock worth $117,000 after acquiring an additional 269 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of Dolby Laboratories by 3.8% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 8,219 shares of the electronics maker’s stock worth $531,000 after acquiring an additional 299 shares during the last quarter. Institutional investors own 57.22% of the company’s stock.

Dolby Laboratories Company Profile

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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Analyst Recommendations for Dolby Laboratories (NYSE:DLB)

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