Dolby Laboratories (NYSE:DLB) Upgraded at StockNews.com

Dolby Laboratories (NYSE:DLBGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other equities analysts also recently commented on the stock. TheStreet upgraded shares of Dolby Laboratories from a “c+” rating to a “b-” rating in a research report on Friday, April 22nd. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Monday, March 7th. Rosenblatt Securities began coverage on shares of Dolby Laboratories in a research report on Monday, May 23rd. They set a “buy” rating and a $90.00 price objective for the company. Finally, Barrington Research cut their price target on shares of Dolby Laboratories from $115.00 to $90.00 in a report on Thursday, May 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $85.33.

Shares of Dolby Laboratories stock traded down $0.70 during trading hours on Wednesday, hitting $77.10. The company had a trading volume of 350,448 shares, compared to its average volume of 540,412. The company’s 50-day moving average is $76.67 and its two-hundred day moving average is $81.06. Dolby Laboratories has a twelve month low of $69.18 and a twelve month high of $104.25. The company has a market cap of $7.78 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

Dolby Laboratories (NYSE:DLBGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $334.37 million during the quarter, compared to analysts’ expectations of $332.51 million. Dolby Laboratories had a net margin of 17.14% and a return on equity of 9.72%. Dolby Laboratories’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. Equities research analysts expect that Dolby Laboratories will post 2.46 earnings per share for the current fiscal year.

In other Dolby Laboratories news, CMO Todd Pendleton sold 45,800 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $75.39, for a total transaction of $3,452,862.00. Following the completion of the transaction, the chief marketing officer now directly owns 37,788 shares in the company, valued at approximately $2,848,837.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John D. Couling sold 500 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $72.61, for a total transaction of $36,305.00. Following the transaction, the senior vice president now owns 80,172 shares of the company’s stock, valued at $5,821,288.92. The disclosure for this sale can be found here. Company insiders own 37.06% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in shares of Dolby Laboratories during the 4th quarter worth about $72,000. Laurel Wealth Advisors Inc. purchased a new position in Dolby Laboratories in the fourth quarter valued at approximately $1,431,000. Charles Schwab Investment Management Inc. raised its holdings in Dolby Laboratories by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 598,130 shares of the electronics maker’s stock valued at $56,954,000 after buying an additional 20,609 shares during the period. Atlanta Capital Management Co. L L C raised its stake in shares of Dolby Laboratories by 7.9% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 3,525,296 shares of the electronics maker’s stock valued at $335,679,000 after purchasing an additional 257,199 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Dolby Laboratories by 60.5% during the fourth quarter. Schroder Investment Management Group now owns 971,831 shares of the electronics maker’s stock valued at $92,538,000 after purchasing an additional 366,304 shares during the period. 59.34% of the stock is currently owned by institutional investors.

About Dolby Laboratories (Get Rating)

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications.; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, an digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

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