Shares of Dolby Laboratories, Inc. (NYSE:DLB) have been assigned an average recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $76.50.

DLB has been the topic of a number of analyst reports. Barrington Research reaffirmed a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 31st. Zacks Investment Research raised Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Thursday, January 24th. Finally, ValuEngine cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, April 1st.

Dolby Laboratories stock traded down $0.22 during trading hours on Wednesday, reaching $62.00. The company had a trading volume of 278,190 shares, compared to its average volume of 455,609. The stock has a market capitalization of $6.31 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. Dolby Laboratories has a 12-month low of $58.17 and a 12-month high of $72.04.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18. The business had revenue of $338.26 million for the quarter, compared to analysts’ expectations of $337.45 million. Dolby Laboratories had a return on equity of 11.12% and a net margin of 24.93%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. As a group, sell-side analysts forecast that Dolby Laboratories will post 2.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, May 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.23%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 31.67%.

In other news, major shareholder Dagmar Dolby sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $65.73, for a total transaction of $3,286,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Giles Baker sold 8,181 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $65.30, for a total value of $534,219.30. Following the transaction, the senior vice president now directly owns 12,499 shares in the company, valued at $816,184.70. The disclosure for this sale can be found here. Insiders have sold 1,067,108 shares of company stock worth $69,554,788 over the last three months. Insiders own 40.23% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of DLB. Penserra Capital Management LLC purchased a new stake in Dolby Laboratories in the fourth quarter worth $27,000. Essex Savings Bank purchased a new stake in Dolby Laboratories in the fourth quarter worth $28,000. Cutler Group LP purchased a new stake in Dolby Laboratories in the fourth quarter worth $30,000. Enlightenment Research LLC purchased a new stake in Dolby Laboratories in the fourth quarter worth $31,000. Finally, Metropolitan Life Insurance Co NY grew its stake in Dolby Laboratories by 28.3% in the first quarter. Metropolitan Life Insurance Co NY now owns 1,966 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 434 shares during the period. 55.59% of the stock is currently owned by hedge funds and other institutional investors.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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