Dolby Laboratories (DLB) Given a $66.00 Price Target by B. Riley Analysts
Dolby Laboratories (NYSE:DLB) received a $66.00 price target from research analysts at B. Riley in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the electronics maker’s stock. B. Riley’s target price indicates a potential upside of 9.69% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 target price (up previously from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. BidaskClub downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Dougherty & Co reiterated a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.33.
Dolby Laboratories (DLB) opened at 60.17 on Thursday. The stock has a market capitalization of $6.17 billion, a PE ratio of 30.78 and a beta of 0.85. The firm has a 50-day moving average of $56.38 and a 200-day moving average of $52.33. Dolby Laboratories has a 52-week low of $44.99 and a 52-week high of $60.49.
Dolby Laboratories (NYSE:DLB) last announced its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. The firm had revenue of $305.67 million for the quarter, compared to the consensus estimate of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, equities analysts expect that Dolby Laboratories will post $1.99 EPS for the current year.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $52.22, for a total value of $5,222,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 14,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.25, for a total transaction of $787,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,419,000 shares of company stock worth $71,701,100 over the last 90 days. Company insiders own 43.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Watermark Asset Management Inc. acquired a new stake in Dolby Laboratories in the 1st quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Dolby Laboratories by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 209 shares during the last quarter. US Bancorp DE grew its position in Dolby Laboratories by 4.8% in the 1st quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock worth $155,000 after purchasing an additional 135 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 725 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in Dolby Laboratories by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock worth $227,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 51.87% of the company’s stock.
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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