Dolby Laboratories Inc. (NYSE:DLB) shares reached a new 52-week high on Monday . The stock traded as high as $49.59 and last traded at $49.36, with a volume of 302,947 shares changing hands. The stock had previously closed at $48.83.

Several research firms have recently weighed in on DLB. Zacks Investment Research cut shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. B. Riley reissued a “neutral” rating and issued a $46.00 price objective on shares of Dolby Laboratories in a research report on Tuesday, May 3rd. Piper Jaffray Cos. reissued a “neutral” rating and issued a $43.00 price objective on shares of Dolby Laboratories in a research report on Sunday, May 1st. Dougherty & Co reissued a “buy” rating and issued a $46.00 price objective (up previously from $38.00) on shares of Dolby Laboratories in a research report on Monday, April 25th. Finally, JPMorgan Chase & Co. lowered shares of Dolby Laboratories from an “overweight” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research 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 given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $46.00.

The stock has a market cap of $5.06 billion and a PE ratio of 27.91. The stock has a 50 day moving average of $47.50 and a 200-day moving average of $41.57.

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

In other Dolby Laboratories news, SVP Michael Bergeron sold 50,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, May 17th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger S. Siboni sold 13,921 shares of Dolby Laboratories stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $45.44, for a total value of $632,570.24. Following the transaction, the director now directly owns 29,255 shares of the company’s stock, valued at approximately $1,329,347.20. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently bought and sold shares of the company. OppenheimerFunds Inc. raised its position in Dolby Laboratories by 0.5% in the fourth quarter. OppenheimerFunds Inc. now owns 271,268 shares of the company’s stock worth $9,128,000 after buying an additional 1,233 shares during the last quarter. California State Teachers Retirement System raised its position in Dolby Laboratories by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 95,220 shares of the company’s stock worth $3,204,000 after buying an additional 1,460 shares during the last quarter. Bank of Montreal Can raised its position in Dolby Laboratories by 6.4% in the fourth quarter. Bank of Montreal Can now owns 45,609 shares of the company’s stock worth $1,534,000 after buying an additional 2,747 shares during the last quarter. Lapides Asset Management LLC raised its position in Dolby Laboratories by 1.2% in the fourth quarter. Lapides Asset Management LLC now owns 252,900 shares of the company’s stock worth $8,510,000 after buying an additional 3,000 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Dolby Laboratories by 2.2% in the fourth quarter. California Public Employees Retirement System now owns 242,000 shares of the company’s stock worth $8,143,000 after buying an additional 5,200 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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