Dolby Laboratories (NYSE:DLB) Rating Reiterated by Rosenblatt Securities

Dolby Laboratories (NYSE:DLB)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a report issued on Friday, Benzinga reports. They currently have a $98.00 price objective on the electronics maker’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 11.69% from the company’s previous close.

Several other research firms have also recently commented on DLB. TheStreet downgraded Dolby Laboratories from a “b” rating to a “c+” rating in a report on Friday, August 4th. StockNews.com started coverage on Dolby Laboratories in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $87.75 on Friday. The stock has a market capitalization of $8.39 billion, a P/E ratio of 39.00 and a beta of 1.00. Dolby Laboratories has a 12-month low of $65.18 and a 12-month high of $91.01. The firm’s 50-day moving average is $81.99 and its two-hundred day moving average is $83.29.

Insider Buying and Selling

In other Dolby Laboratories news, CMO Todd Pendleton sold 6,889 shares of Dolby Laboratories stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.41, for a total value of $581,500.49. Following the transaction, the chief marketing officer now owns 36,976 shares in the company, valued at approximately $3,121,144.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CMO Todd Pendleton sold 6,889 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.41, for a total value of $581,500.49. Following the transaction, the chief marketing officer now directly owns 36,976 shares in the company, valued at approximately $3,121,144.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin J. Yeaman sold 9,030 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $82.32, for a total value of $743,349.60. Following the sale, the chief executive officer now owns 51,879 shares of the company’s stock, valued at approximately $4,270,679.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,979 shares of company stock valued at $2,816,967. Insiders own 39.25% of the company’s stock.

Institutional Trading of Dolby Laboratories

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its position in shares of Dolby Laboratories by 248.2% in the second quarter. Quarry LP now owns 296 shares of the electronics maker’s stock worth $25,000 after buying an additional 211 shares during the period. Dakota Community Bank & Trust NA acquired a new stake in Dolby Laboratories in the second quarter valued at approximately $25,000. Denali Advisors LLC raised its stake in shares of Dolby Laboratories by 6,100.0% during the second quarter. Denali Advisors LLC now owns 310 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 305 shares during the period. Headlands Technologies LLC purchased a new position in shares of Dolby Laboratories in the second quarter valued at $30,000. Finally, Altshuler Shaham Ltd acquired a new position in Dolby Laboratories in the 1st quarter worth $31,000. 56.37% of the stock is owned by hedge funds and other institutional investors.

About Dolby Laboratories

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, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.