Shares of Dolby Laboratories (NYSE:DLB – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $90.75.
A number of equities research analysts have recently weighed in on DLB shares. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Friday. Barrington Research decreased their price target on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a research report on Friday, January 30th.
Dolby Laboratories Stock Performance
Dolby Laboratories (NYSE:DLB – Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business had revenue of $346.71 million during the quarter, compared to the consensus estimate of $341.26 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts forecast that Dolby Laboratories will post 2.94 EPS for the current year.
Dolby Laboratories Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, February 10th. Dolby Laboratories’s payout ratio is presently 58.06%.
Insiders Place Their Bets
In other Dolby Laboratories news, CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $66.38, for a total value of $177,035.46. Following the transaction, the chief accounting officer owned 36,956 shares in the company, valued at approximately $2,453,139.28. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Shriram Revankar sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total transaction of $198,420.00. Following the transaction, the senior vice president directly owned 83,218 shares of the company’s stock, valued at approximately $5,504,038.52. This trade represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 37.93% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of DLB. Hsbc Holdings PLC lifted its holdings in Dolby Laboratories by 5.0% in the 4th quarter. Hsbc Holdings PLC now owns 6,301 shares of the electronics maker’s stock worth $406,000 after buying an additional 301 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Dolby Laboratories by 292.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,732 shares of the electronics maker’s stock valued at $240,000 after buying an additional 2,781 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Dolby Laboratories by 73,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,480 shares of the electronics maker’s stock valued at $95,000 after acquiring an additional 1,478 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Dolby Laboratories by 7.7% during the fourth quarter. Pacer Advisors Inc. now owns 477,903 shares of the electronics maker’s stock valued at $30,691,000 after acquiring an additional 34,006 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in Dolby Laboratories in the fourth quarter worth $231,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.
About Dolby Laboratories
Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.
Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.
Further Reading
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