Dolby Laboratories (NYSE:DLB) Given Outperform Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research note released on Friday,Benzinga reports. Barrington Research currently has a $100.00 price target on the electronics maker’s stock.

A number of other equities analysts have also weighed in on DLB. StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities dropped their price objective on shares of Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating for the company in a report on Friday.

Dolby Laboratories Stock Down 1.7 %

NYSE:DLB opened at $74.89 on Friday. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $89.66. The stock’s 50-day moving average price is $77.73 and its 200-day moving average price is $78.37. The stock has a market capitalization of $7.15 billion, a PE ratio of 27.53 and a beta of 0.94.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The company had revenue of $369.56 million during the quarter, compared to analysts’ expectations of $375.44 million. During the same period in the prior year, the business posted $1.27 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 annualized dividend and a yield of 1.76%. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Insider Transactions at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 38.39% of the company’s stock.

Institutional Trading of Dolby Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in DLB. Barclays PLC increased its holdings in Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after acquiring an additional 14,825 shares in the last quarter. Synovus Financial Corp grew its position in shares of Dolby Laboratories by 10.8% in the third quarter. Synovus Financial Corp now owns 32,062 shares of the electronics maker’s stock valued at $2,454,000 after purchasing an additional 3,113 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Dolby Laboratories by 22.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock worth $3,513,000 after purchasing an additional 8,509 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Dolby Laboratories by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after purchasing an additional 15,546 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Dolby Laboratories by 207.5% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after buying an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

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.