Dolby Laboratories (NYSE:DLB) CFO Lewis Chew sold 17,000 shares of Dolby Laboratories stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $59.55, for a total transaction of $1,012,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dolby Laboratories (DLB) traded up $1.01 during midday trading on Monday, hitting $60.65. 350,100 shares of the company were exchanged, compared to its average volume of 386,958. Dolby Laboratories has a twelve month low of $44.98 and a twelve month high of $61.45. The company has a market cap of $6,188.54, a P/E ratio of 29.16, a P/E/G ratio of 2.28 and a beta of 0.83.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Wednesday, October 25th. The electronics maker reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.73%. The business had revenue of $242.05 million for the quarter, compared to the consensus estimate of $244.80 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. sell-side analysts predict that Dolby Laboratories will post 2.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, November 6th will be issued a $0.16 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, November 3rd. Dolby Laboratories’s payout ratio is presently 32.99%.

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Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Dolby Laboratories by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after acquiring an additional 209 shares during the period. US Bancorp DE raised its holdings in shares of Dolby Laboratories by 2.6% during the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after acquiring an additional 78 shares during the period. Berkshire Asset Management LLC PA acquired a new stake in shares of Dolby Laboratories during the third quarter valued at approximately $200,000. CIBC Asset Management Inc acquired a new stake in shares of Dolby Laboratories during the third quarter valued at approximately $204,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Dolby Laboratories by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares during the period. Institutional investors and hedge funds own 51.71% of the company’s stock.

DLB has been the subject of a number of analyst reports. B. Riley raised shares of Dolby Laboratories from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $61.50 in a research note on Monday, July 17th. BidaskClub lowered shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Piper Jaffray Companies reissued a “hold” rating and set a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Finally, Dougherty & Co reissued a “buy” rating and set a $63.00 target price on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Dolby Laboratories currently has a consensus rating of “Hold” and an average price target of $60.17.

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.

Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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