Dolby Laboratories (NYSE:DLB) Rating Reiterated by Barrington Research

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating restated by stock analysts at Barrington Research in a report released on Friday, Benzinga reports. They currently have a $100.00 target price on the electronics maker’s stock. Barrington Research’s price objective would suggest a potential upside of 47.91% from the stock’s current price.

A number of other research firms have also commented on DLB. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research report on Friday, June 7th.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB traded down $0.35 during trading on Friday, reaching $67.61. The stock had a trading volume of 806,028 shares, compared to its average volume of 391,516. The firm’s fifty day moving average is $78.70 and its 200 day moving average is $80.55. Dolby Laboratories has a 52 week low of $66.47 and a 52 week high of $90.06. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 34.48 and a beta of 0.99.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total transaction of $181,772.46. Following the transaction, the executive vice president now owns 58,325 shares in the company, valued at $4,643,836.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 39.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mather Group LLC. purchased a new stake in shares of Dolby Laboratories in the first quarter valued at about $33,000. Blue Trust Inc. raised its holdings in shares of Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares during the last quarter. Quarry LP purchased a new stake in shares of Dolby Laboratories in the fourth quarter valued at about $37,000. GAMMA Investing LLC raised its holdings in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in shares of Dolby Laboratories by 1,631.0% in the first quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 473 shares during the last quarter. 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.