Dolby Laboratories Inc. (DLB) Research Coverage Started at JPMorgan Chase & Co.
Equities research analysts at JPMorgan Chase & Co. initiated coverage on shares of Dolby Laboratories Inc. (NYSE:DLB) in a research note issued to investors on Tuesday, StockTargetPrices.com reports. The firm set a “neutral” rating on the stock.
Other equities analysts have also recently issued reports about the stock. B. Riley reissued a “neutral” rating and issued a $50.00 price objective on shares of Dolby Laboratories in a research note on Tuesday, August 2nd. Dougherty & Co lifted their price objective 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. Finally, Zacks Investment Research cut shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Dolby Laboratories currently has an average rating of “Hold” and a consensus price target of $49.00.
Dolby Laboratories (NYSE:DLB) opened at 54.22 on Tuesday. The company has a 50-day moving average of $50.94 and a 200 day moving average of $47.52. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 26.45 and a beta of 0.57. Dolby Laboratories has a 12 month low of $30.38 and a 12 month high of $54.68.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, July 27th. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.25. The company earned $277.60 million during the quarter, compared to analysts’ expectations of $268.04 million. Dolby Laboratories had a net margin of 20.19% and a return on equity of 10.19%. Dolby Laboratories’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share. On average, equities research analysts anticipate that Dolby Laboratories will post $1.79 earnings per share for the current fiscal year.
In related news, major shareholder Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $48.53, for a total transaction of $2,426,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lewis Chew sold 12,000 shares of Dolby Laboratories stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $49.79, for a total transaction of $597,480.00. The disclosure for this sale can be found here. Corporate insiders own 45.16% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $31,466,000. Fiera Capital Corp bought a new stake in shares of Dolby Laboratories during the second quarter worth $38,714,000. Columbus Circle Investors raised its stake in shares of Dolby Laboratories by 126.6% in the second quarter. Columbus Circle Investors now owns 771,271 shares of the company’s stock worth $36,905,000 after buying an additional 430,949 shares during the last quarter. Calamos Advisors LLC bought a new stake in shares of Dolby Laboratories during the second quarter worth $19,638,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Dolby Laboratories during the second quarter worth $18,960,000. Institutional investors own 49.40% of the company’s stock.
About Dolby Laboratories
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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