Shares of Dolby Laboratories Inc. (NYSE:DLB) saw unusually-high trading volume on Thursday . Approximately 656,448 shares traded hands during trading, an increase of 53% from the previous session’s volume of 427,709 shares.The stock last traded at $47.73 and had previously closed at $47.03.

DLB has been the topic of a number of recent analyst reports. Dougherty & Co reissued a “buy” rating and set a $46.00 price target (up from $38.00) on shares of Dolby Laboratories in a report on Monday, April 25th. Zacks Investment Research raised Dolby Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Friday, April 29th. B. Riley reissued a “neutral” rating and set a $46.00 price target on shares of Dolby Laboratories in a report on Tuesday, May 3rd. Piper Jaffray Cos. reissued a “neutral” rating and set a $43.00 price target on shares of Dolby Laboratories in a report on Sunday, May 1st. Finally, JPMorgan Chase & Co. cut Dolby Laboratories from an “overweight” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Friday, April 8th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Dolby Laboratories has an average rating of “Hold” and a consensus target price of $46.00.

The stock has a 50 day moving average of $47.23 and a 200 day moving average of $41.26. The stock has a market cap of $4.90 billion and a PE ratio of 27.00.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.36. The business earned $274.30 million during the quarter, compared to analysts’ expectations of $263.97 million. During the same period last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts anticipate that Dolby Laboratories Inc. will post $1.77 EPS for the current fiscal year.

In related news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $46.45, for a total transaction of $4,645,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 51,230 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $46.27, for a total transaction of $2,370,412.10. The disclosure for this sale can be found here.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Dolby Laboratories by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 408,068 shares of the company’s stock valued at $13,733,000 after buying an additional 14,728 shares during the last quarter. Lapides Asset Management LLC increased its position in shares of Dolby Laboratories by 1.2% in the fourth quarter. Lapides Asset Management LLC now owns 252,900 shares of the company’s stock valued at $8,510,000 after buying an additional 3,000 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Dolby Laboratories by 86.2% in the fourth quarter. Schroder Investment Management Group now owns 451,875 shares of the company’s stock valued at $15,206,000 after buying an additional 209,200 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Dolby Laboratories by 12.5% in the fourth quarter. Wells Fargo & Company MN now owns 457,313 shares of the company’s stock valued at $15,389,000 after buying an additional 50,811 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Dolby Laboratories by 6.4% in the fourth quarter. Bank of Montreal Can now owns 45,609 shares of the company’s stock valued at $1,534,000 after buying an additional 2,747 shares during the last quarter.

Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.

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