Dolby Laboratories, Inc. (NYSE:DLB) CFO Lewis Chew sold 35,000 shares of Dolby Laboratories stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $69.44, for a total transaction of $2,430,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Lewis Chew also recently made the following trade(s):
- On Tuesday, August 7th, Lewis Chew sold 17,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.47, for a total transaction of $1,112,990.00.
DLB stock traded down $0.34 during midday trading on Monday, hitting $68.51. The company’s stock had a trading volume of 554,324 shares, compared to its average volume of 387,099. Dolby Laboratories, Inc. has a twelve month low of $58.36 and a twelve month high of $74.29. The firm has a market capitalization of $7.14 billion, a P/E ratio of 28.55, a PEG ratio of 2.34 and a beta of 0.73.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, October 24th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.17. The firm had revenue of $265.33 million for the quarter, compared to analyst estimates of $272.42 million. Dolby Laboratories had a net margin of 10.43% and a return on equity of 12.81%. During the same period in the previous year, the business earned $0.21 EPS. Equities analysts expect that Dolby Laboratories, Inc. will post 2.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, November 2nd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a dividend yield of 1.11%. Dolby Laboratories’s payout ratio is currently 26.67%.
DLB has been the topic of several recent research reports. Tigress Financial reiterated a “buy” rating on shares of Dolby Laboratories in a research note on Friday, September 7th. B. Riley lowered their price target on shares of Dolby Laboratories from $69.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. R. F. Lafferty initiated coverage on shares of Dolby Laboratories in a research note on Wednesday, September 5th. They issued a “buy” rating and a $81.00 price target on the stock. Barrington Research reiterated a “buy” rating and issued a $78.00 price target on shares of Dolby Laboratories in a research note on Thursday, July 26th. Finally, ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $72.80.
Several institutional investors have recently added to or reduced their stakes in DLB. Contravisory Investment Management Inc. acquired a new position in shares of Dolby Laboratories during the 2nd quarter worth about $136,000. Commonwealth Equity Services LLC acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $203,000. WINTON GROUP Ltd acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $206,000. Oakbrook Investments LLC acquired a new position in shares of Dolby Laboratories during the 3rd quarter worth about $211,000. Finally, Summit Creek Advisors LLC acquired a new position in shares of Dolby Laboratories during the 3rd quarter worth about $227,000. Institutional investors own 56.32% of the company’s stock.
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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, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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