Dolby Laboratories Inc. (NYSE:DLB) saw strong trading volume on Thursday . 656,448 shares changed hands during mid-day 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.

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

The company’s 50 day moving average is $47.37 and its 200-day moving average is $41.37. The stock has a market cap of $5.01 billion and a P/E ratio of 27.62.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.46 by $0.36. The firm had revenue of $274.30 million for the quarter, compared to analyst estimates of $263.97 million. The company’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. Equities research analysts expect that Dolby Laboratories Inc. will post $1.77 EPS for the current year.

In other news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $45.06, for a total value of $4,506,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Bergeron sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $45.02, for a total transaction of $2,251,000.00. Following the completion of the transaction, the senior vice president now owns 67,162 shares of the company’s stock, valued at approximately $3,023,633.24. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently modified their holdings of the company. Nationwide Fund Advisors boosted its position in shares of Dolby Laboratories by 91.6% in the fourth quarter. Nationwide Fund Advisors now owns 32,062 shares of the company’s stock valued at $1,079,000 after buying an additional 15,327 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Dolby Laboratories during the fourth quarter valued at about $1,420,000. Engineers Gate Manager LP boosted its position in shares of Dolby Laboratories by 141.6% in the fourth quarter. Engineers Gate Manager LP now owns 44,639 shares of the company’s stock valued at $1,502,000 after buying an additional 26,160 shares during the last quarter. Bank of Montreal Can boosted 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. Finally, California State Teachers Retirement System boosted its position in shares of Dolby Laboratories by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 95,220 shares of the company’s stock valued at $3,204,000 after buying an additional 1,460 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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