Rosenblatt Securities Reaffirms Buy Rating for Dolby Laboratories (NYSE:DLB)

Rosenblatt Securities restated their buy rating on shares of Dolby Laboratories (NYSE:DLB) in a research note released on Monday, Benzinga reports. The brokerage currently has a $98.00 target price on the electronics maker’s stock.

Separately, StockNews.com upgraded shares of Dolby Laboratories from a hold rating to a buy rating in a report on Friday, February 2nd.

Dolby Laboratories Trading Up 0.2 %

Shares of Dolby Laboratories stock opened at $79.37 on Monday. The company has a fifty day moving average price of $81.65 and a 200 day moving average price of $83.30. Dolby Laboratories has a twelve month low of $75.87 and a twelve month high of $91.01. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 41.12 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The firm had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Analysts forecast that Dolby Laboratories will post 2.6 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 62.18%.

Insider Activity

In other news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the sale, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 39.54% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

A number of institutional investors have recently modified their holdings of DLB. State of Alaska Department of Revenue raised its stake in shares of Dolby Laboratories by 140.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,112 shares of the electronics maker’s stock valued at $959,000 after purchasing an additional 7,080 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Dolby Laboratories by 53.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,725 shares of the electronics maker’s stock valued at $216,000 after buying an additional 952 shares during the last quarter. Simplicity Solutions LLC grew its position in shares of Dolby Laboratories by 9.5% during the 3rd quarter. Simplicity Solutions LLC now owns 9,310 shares of the electronics maker’s stock valued at $738,000 after buying an additional 807 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Dolby Laboratories by 3.0% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 8,638 shares of the electronics maker’s stock valued at $685,000 after buying an additional 255 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Dolby Laboratories by 9.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 2,708 shares of the electronics maker’s stock valued at $215,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. 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.