Lewis Chew Sells 17,000 Shares of Dolby Laboratories, Inc. (DLB) Stock
Dolby Laboratories, Inc. (NYSE:DLB) CFO Lewis Chew sold 17,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $63.15, for a total value of $1,073,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Dolby Laboratories, Inc. (DLB) opened at $64.75 on Friday. The company has a market capitalization of $6,651.42, a PE ratio of 27.23, a P/E/G ratio of 5.41 and a beta of 0.75. Dolby Laboratories, Inc. has a fifty-two week low of $48.00 and a fifty-two week high of $74.29.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.35. The business had revenue of $287.80 million during the quarter, compared to the consensus estimate of $265.75 million. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. equities analysts expect that Dolby Laboratories, Inc. will post 0.99 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Elkfork Partners LLC bought a new stake in shares of Dolby Laboratories in the fourth quarter worth about $102,000. Captrust Financial Advisors bought a new stake in shares of Dolby Laboratories in the fourth quarter worth about $122,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Dolby Laboratories in the fourth quarter worth about $145,000. The Manufacturers Life Insurance Company increased its holdings in shares of Dolby Laboratories by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after acquiring an additional 725 shares in the last quarter. Finally, Meadow Creek Investment Management LLC bought a new stake in shares of Dolby Laboratories in the fourth quarter worth about $179,000. Institutional investors own 53.79% of the company’s stock.
A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Zacks Investment Research downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Monday, January 29th. B. Riley downgraded Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a report on Tuesday, January 16th. Finally, ValuEngine upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.00.
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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.
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