Barrington Research Lowers Dolby Laboratories (NYSE:DLB) to Market Perform

Dolby Laboratories (NYSE:DLBGet Rating) was downgraded by equities researchers at Barrington Research from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, Marketbeat.com reports.

DLB has been the topic of a number of other reports. StockNews.com initiated coverage on Dolby Laboratories in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Rosenblatt Securities reduced their price target on Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Finally, Tigress Financial reduced their price target on Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating on the stock in a research report on Friday, October 14th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Dolby Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Dolby Laboratories Stock Down 1.0 %

Shares of NYSE:DLB opened at $69.07 on Friday. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97. Dolby Laboratories has a 52 week low of $61.55 and a 52 week high of $96.85. The firm has a 50 day moving average of $67.83 and a 200 day moving average of $72.52.

Insider Activity

In other news, SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $66.02, for a total transaction of $3,301,000.00. Following the sale, the senior vice president now directly owns 79,235 shares of the company’s stock, valued at $5,231,094.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 37.06% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Dolby Laboratories by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,257,157 shares of the electronics maker’s stock valued at $489,435,000 after purchasing an additional 99,453 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Dolby Laboratories by 116.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,052,837 shares of the electronics maker’s stock valued at $290,021,000 after purchasing an additional 2,183,842 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Dolby Laboratories by 61.4% in the first quarter. Ninety One UK Ltd now owns 2,722,534 shares of the electronics maker’s stock valued at $212,957,000 after purchasing an additional 1,036,041 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Dolby Laboratories by 8.8% in the first quarter. Bank of New York Mellon Corp now owns 1,778,339 shares of the electronics maker’s stock valued at $139,101,000 after purchasing an additional 144,335 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Dolby Laboratories by 5.4% in the first quarter. Disciplined Growth Investors Inc. MN now owns 1,550,307 shares of the electronics maker’s stock valued at $121,265,000 after purchasing an additional 79,257 shares during the last quarter. 59.13% of the stock is owned by hedge funds and other institutional investors.

About Dolby Laboratories

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Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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