Dolby Laboratories (NYSE:DLB) Now Covered by StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Dolby Laboratories (NYSE:DLB – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the electronics maker’s stock.

DLB has been the subject of several other research reports. Rosenblatt Securities increased their price target on Dolby Laboratories from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. TheStreet upgraded Dolby Laboratories from a “c” rating to a “b” rating in a research note on Friday, February 3rd. Finally, Barrington Research downgraded Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research note on Friday, November 18th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $79.86 on Thursday. Dolby Laboratories has a 1 year low of $61.55 and a 1 year high of $88.06. The firm has a market cap of $7.65 billion, a PE ratio of 43.17, a P/E/G ratio of 2.08 and a beta of 1.01. The stock has a fifty day moving average price of $80.31 and a 200-day moving average price of $73.46.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 5,070 shares of the firm’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $69.84, for a total value of $354,088.80. Following the completion of the transaction, the executive vice president now owns 60,425 shares in the company, valued at approximately $4,220,082. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 5,070 shares of the firm’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $69.84, for a total value of $354,088.80. Following the completion of the transaction, the executive vice president now owns 60,425 shares in the company, valued at approximately $4,220,082. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anjali Sud sold 8,873 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $82.00, for a total value of $727,586.00. Following the completion of the transaction, the director now owns 6,079 shares of the company’s stock, valued at approximately $498,478. The disclosure for this sale can be found here. Insiders sold a total of 155,938 shares of company stock worth $12,966,626 in the last quarter. 39.25% of the stock is owned by company insiders.

Institutional Trading of Dolby Laboratories

Several institutional investors and hedge funds have recently modified their holdings of DLB. National Bank of Canada FI purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at about $26,000. Belpointe Asset Management LLC purchased a new stake in shares of Dolby Laboratories in the 4th quarter valued at about $26,000. Ronald Blue Trust Inc. raised its holdings in shares of Dolby Laboratories by 89.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 374 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 177 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at about $39,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Dolby Laboratories in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.

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. Its products include Cinema Imaging Products, Cinema Audio Products, and other products such as 3-D kits, broadcast hardware and software, monitors, and solutions for hearing impaired consumers.