Dolby Laboratories (NYSE:DLB) insider Kevin J. Yeaman sold 45,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.46, for a total value of $2,540,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kevin J. Yeaman also recently made the following trade(s):
- On Wednesday, August 2nd, Kevin J. Yeaman sold 10,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $51.79, for a total value of $517,900.00.
Shares of Dolby Laboratories (NYSE DLB) traded up 0.17% during mid-day trading on Friday, hitting $58.29. The company had a trading volume of 611,570 shares. Dolby Laboratories has a one year low of $44.99 and a one year high of $59.79. The firm’s 50-day moving average price is $50.98 and its 200 day moving average price is $51.06. The company has a market capitalization of $5.98 billion, a P/E ratio of 29.82 and a beta of 0.81.
Dolby Laboratories (NYSE:DLB) last announced its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. The firm had revenue of $305.67 million during the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Analysts predict that Dolby Laboratories will post $1.99 earnings per share for the current fiscal year.
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Several brokerages have recently commented on DLB. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. B. Riley reaffirmed a “buy” rating and issued a $61.50 target price on shares of Dolby Laboratories in a research report on Thursday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 target price (up previously from $49.00) on shares of Dolby Laboratories in a research report on Wednesday. Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Dougherty & Co reaffirmed a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $57.30.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Watermark Asset Management Inc. acquired a new position in Dolby Laboratories in the 1st quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Dolby Laboratories by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 209 shares during the period. US Bancorp DE boosted its stake in Dolby Laboratories by 2.6% in the 2nd quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock worth $149,000 after purchasing an additional 78 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 725 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Dolby Laboratories by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock worth $227,000 after purchasing an additional 205 shares during the period. 51.88% of the stock is owned by hedge funds and other institutional investors.
About Dolby Laboratories
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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