Dolby Laboratories (NYSE:DLB) Receives $90.75 Average Price Target from Analysts

by · The Markets Daily

Shares of Dolby Laboratories (NYSE:DLBGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $90.75.

A number of equities analysts have commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a research report on Friday, January 30th. Wall Street Zen downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Barrington Research lowered their target price on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th.

View Our Latest Stock Analysis on DLB

Dolby Laboratories Stock Performance

NYSE:DLB opened at $65.13 on Friday. The stock has a market capitalization of $6.22 billion, a PE ratio of 26.26 and a beta of 0.84. Dolby Laboratories has a fifty-two week low of $60.14 and a fifty-two week high of $84.15. The company has a fifty day moving average of $64.29 and a two-hundred day moving average of $67.45.

Dolby Laboratories (NYSE:DLBGet Free Report) last released its earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business had revenue of $346.71 million during the quarter, compared to analysts’ expectations of $341.26 million. During the same quarter in the previous year, the company earned $1.14 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.2%. Dolby Laboratories’s payout ratio is presently 58.06%.

Insider Activity at Dolby Laboratories

In other news, SVP Shriram Revankar sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the sale, the senior vice president directly owned 83,218 shares in the company, valued at $5,504,038.52. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John D. Couling sold 7,273 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $68.75, for a total value of $500,018.75. Following the transaction, the senior vice president owned 108,065 shares in the company, valued at approximately $7,429,468.75. The trade was a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,424 shares of company stock worth $6,196,501 in the last 90 days. 37.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Dolby Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DLB. Hantz Financial Services Inc. raised its holdings in Dolby Laboratories by 166.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after buying an additional 220 shares during the period. First Horizon Corp purchased a new position in Dolby Laboratories during the third quarter worth about $25,000. Allworth Financial LP increased its position in shares of Dolby Laboratories by 590.4% during the second quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 431 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at approximately $38,000. Finally, Rothschild Investment LLC raised its stake in shares of Dolby Laboratories by 4,046.7% in the 3rd quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock valued at $45,000 after acquiring an additional 607 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

(Get Free Report)

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.

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