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

Shares of Dolby Laboratories (NYSE:DLB) have been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $90.75.

DLB has been the subject of a number of research analyst reports. Wall Street Zen cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Finally, Barrington Research cut their price target 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.

Insider Transactions at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 2,491 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $67.26, for a total transaction of $167,544.66. Following the completion of the transaction, the executive vice president directly owned 70,563 shares in the company, valued at approximately $4,746,067.38. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, February 17th. The shares were 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 approximately $5,504,038.52. This represents a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 92,424 shares of company stock worth $6,196,501. 37.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. First Horizon Corp bought a new position in Dolby Laboratories in the third quarter valued at $25,000. Hantz Financial Services Inc. boosted its stake in shares of Dolby Laboratories by 166.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Dolby Laboratories by 590.4% in the 2nd quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 431 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Dolby Laboratories in the third quarter valued at about $38,000. Finally, Rothschild Investment LLC increased its position in shares of Dolby Laboratories by 4,046.7% in the third 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 last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB opened at $64.80 on Friday. The company has a 50 day moving average price of $64.24 and a two-hundred day moving average price of $67.38. The company has a market capitalization of $6.19 billion, a PE ratio of 26.13 and a beta of 0.84. Dolby Laboratories has a 52 week low of $60.14 and a 52 week high of $84.15.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share 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 company had revenue of $346.71 million for the quarter, compared to analysts’ expectations of $341.26 million. During the same period last year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

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

Dolby Laboratories Company Profile

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.