Dolby Laboratories Inc. (NYSE:DLB) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $52.44 and last traded at $52.32, with a volume of 276,694 shares. The stock had previously closed at $51.23.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. B. Riley reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Dolby Laboratories in a research note on Monday, July 25th. Finally, Dougherty & Co lifted their target price on shares of Dolby Laboratories from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Dolby Laboratories has a consensus rating of “Hold” and a consensus target price of $49.00.

The firm’s 50 day moving average is $49.91 and its 200-day moving average is $46.65. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 26.08 and a beta of 0.77.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.25. Dolby Laboratories had a return on equity of 10.19% and a net margin of 20.19%. The business earned $277.60 million during the quarter, compared to the consensus estimate of $268.04 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, equities analysts expect that Dolby Laboratories Inc. will post $1.79 EPS for the current year.

In other news, CFO Lewis Chew sold 12,000 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $49.79, for a total transaction of $597,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dagmar Dolby sold 50,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $48.53, for a total value of $2,426,500.00. The disclosure for this sale can be found here. 45.16% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. purchased a new position in Dolby Laboratories during the second quarter worth approximately $165,000. Walleye Trading LLC increased its position in Dolby Laboratories by 155.8% in the second quarter. Walleye Trading LLC now owns 2,122 shares of the company’s stock worth $102,000 after buying an additional 5,922 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Dolby Laboratories by 13.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the company’s stock worth $139,000 after buying an additional 353 shares in the last quarter. US Bancorp DE increased its position in Dolby Laboratories by 17.2% in the second quarter. US Bancorp DE now owns 3,138 shares of the company’s stock worth $150,000 after buying an additional 460 shares in the last quarter. Finally, Advisor Group Inc. purchased a new position in Dolby Laboratories during the second quarter worth approximately $166,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Dolby Laboratories Company Profile

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.

5 Day Chart for NYSE:DLB

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