Dolby Laboratories Inc. (NYSE:DLB) saw strong trading volume on Tuesday . 463,007 shares changed hands during trading, an increase of 22% from the previous session’s volume of 379,234 shares.The stock last traded at $50.44 and had previously closed at $50.01.

A number of analysts have weighed in on the company. B. Riley restated a “neutral” rating and set a $46.00 target price on shares of Dolby Laboratories in a report on Monday. Piper Jaffray Cos. restated 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 lowered Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Dougherty & Co restated 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. Finally, JPMorgan Chase & Co. lowered 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $46.00.

The stock has a 50-day moving average price of $48.16 and a 200 day moving average price of $42.73. The stock has a market capitalization of $5.17 billion and a P/E ratio of 28.51.

In other news, Director Roger S. Siboni sold 13,921 shares of Dolby Laboratories stock in a transaction that occurred on 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 owns 29,255 shares of the company’s stock, valued at approximately $1,329,347.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Yeaman sold 51,230 shares of Dolby Laboratories stock in a transaction that occurred on Friday, April 29th. The stock was 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 hedge funds and institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its position in 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 period. Ameritas Investment Partners Inc. bought a new position in shares of Dolby Laboratories during the fourth quarter worth approximately $1,420,000. 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 worth $1,534,000 after buying an additional 2,747 shares during the last quarter. California State Teachers Retirement System increased 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 worth $3,204,000 after buying an additional 1,460 shares during the last quarter. Finally, Boston Partners increased its position in shares of Dolby Laboratories by 35.5% in the fourth quarter. Boston Partners now owns 118,902 shares of the company’s stock worth $4,001,000 after buying an additional 31,167 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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