Dolby Laboratories (NYSE:DLB) Reaches New 1-Year Low at $75.65

Shares of Dolby Laboratories, Inc. (NYSE:DLB) hit a new 52-week low during trading on Friday . The company traded as low as $75.65 and last traded at $75.75, with a volume of 31799 shares. The stock had previously closed at $77.05.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barrington Research upgraded Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Monday, June 3rd. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research report on Friday, June 7th.

Dolby Laboratories Stock Down 1.1 %

The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 38.77 and a beta of 0.99. The stock has a 50 day moving average of $79.33 and a 200 day moving average of $80.95.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $364.52 million during the quarter, compared to analyst estimates of $361.98 million. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. Analysts predict that Dolby Laboratories, Inc. will post 2.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the transaction, the executive vice president now directly owns 58,325 shares in the company, valued at approximately $4,643,836.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 39.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLB. Raymond James Financial Services Advisors Inc. increased its stake in shares of Dolby Laboratories by 20.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,675 shares of the electronics maker’s stock valued at $1,351,000 after purchasing an additional 2,681 shares during the period. Blue Trust Inc. boosted its position in Dolby Laboratories by 75.7% during the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 159 shares during the period. Fifth Third Bancorp increased its holdings in shares of Dolby Laboratories by 36.8% during the fourth quarter. Fifth Third Bancorp now owns 610 shares of the electronics maker’s stock valued at $53,000 after purchasing an additional 164 shares during the period. WoodTrust Financial Corp bought a new stake in shares of Dolby Laboratories during the fourth quarter valued at about $215,000. Finally, Boston Trust Walden Corp lifted its holdings in Dolby Laboratories by 1.0% in the fourth quarter. Boston Trust Walden Corp now owns 366,796 shares of the electronics maker’s stock worth $31,610,000 after purchasing an additional 3,549 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.