Dolby Laboratories (NYSE:DLB)‘s stock had its “buy” rating reaffirmed by analysts at Dougherty & Co in a research report issued to clients and investors on Wednesday. They presently have a $63.00 price target on the electronics maker’s stock. Dougherty & Co’s target price indicates a potential upside of 6.65% from the stock’s current price.

Several other analysts have also recently weighed in on DLB. B. Riley set a $62.00 target price on Dolby Laboratories and gave the stock a “buy” rating in a research report on Friday, August 18th. BidaskClub upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Zacks Investment Research lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 price objective (up from $49.00) on shares of Dolby Laboratories in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Dolby Laboratories presently has an average rating of “Hold” and an average price target of $57.30.

Dolby Laboratories (NYSE:DLB) traded down 2.30% during mid-day trading on Wednesday, reaching $57.71. 567,659 shares of the company’s stock were exchanged. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $58.95. The stock has a market capitalization of $5.92 billion, a PE ratio of 29.52 and a beta of 0.81. The firm’s 50-day moving average is $50.70 and its 200 day moving average is $50.95.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. The company had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $296.88 million. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. Analysts forecast that Dolby Laboratories will post $1.99 earnings per share for the current fiscal year.

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In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $52.22, for a total value of $5,222,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. The disclosure for this sale can be found here. Insiders sold 1,360,000 shares of company stock valued at $68,372,900 over the last quarter. Corporate insiders own 43.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Dolby Laboratories by 13,583.7% during the first quarter. BlackRock Inc. now owns 2,431,722 shares of the electronics maker’s stock valued at $127,449,000 after buying an additional 2,413,951 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Dolby Laboratories by 157.2% during the second quarter. Alliancebernstein L.P. now owns 907,989 shares of the electronics maker’s stock valued at $44,455,000 after buying an additional 555,020 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Dolby Laboratories by 8.8% during the first quarter. Clearbridge Investments LLC now owns 6,181,361 shares of the electronics maker’s stock valued at $323,965,000 after buying an additional 497,767 shares during the last quarter. Timucuan Asset Management Inc. FL boosted its position in shares of Dolby Laboratories by 61.3% during the second quarter. Timucuan Asset Management Inc. FL now owns 1,172,271 shares of the electronics maker’s stock valued at $57,394,000 after buying an additional 445,411 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Dolby Laboratories by 8.4% during the first quarter. Vanguard Group Inc. now owns 4,621,794 shares of the electronics maker’s stock valued at $242,228,000 after buying an additional 359,509 shares during the last quarter. 51.88% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Analyst Recommendations for Dolby Laboratories (NYSE:DLB)

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