Dolby Laboratories Inc. (NYSE:DLB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $50.03 and last traded at $49.98, with a volume of 277,038 shares changing hands. The stock had previously closed at $49.62.

A number of equities research analysts have issued reports on DLB shares. 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. Zacks Investment Research raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock 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 Monday. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $43.00 price target on shares of Dolby Laboratories in a report on Sunday, May 1st. Finally, JPMorgan Chase & Co. cut shares of 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 analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $46.00.

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

In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction on Friday, April 29th. The shares were sold at an average price of $46.30, for a total value of $4,630,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roger S. Siboni sold 13,921 shares of Dolby Laboratories stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $45.44, for a total transaction of $632,570.24. Following the completion of the sale, the director now owns 29,255 shares in the company, valued at $1,329,347.20. The disclosure for this sale can be found here.

Several hedge funds have bought and sold shares of DLB. Nationwide Fund Advisors increased its stake in Dolby Laboratories by 91.6% in the fourth quarter. Nationwide Fund Advisors now owns 32,062 shares of the company’s stock worth $1,079,000 after buying an additional 15,327 shares during the period. California State Teachers Retirement System boosted 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 in the last quarter. First Trust Advisors LP boosted its position in Dolby Laboratories by 63.6% in the fourth quarter. First Trust Advisors LP now owns 241,672 shares of the company’s stock worth $8,132,000 after buying an additional 93,976 shares in the last quarter. California Public Employees Retirement System boosted 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 in the last quarter. Finally, OppenheimerFunds Inc. boosted 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 in 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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