Dolby Laboratories’ (DLB) Outperform Rating Reaffirmed at Barrington Research

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating reiterated by stock analysts at Barrington Research in a report released on Monday,Benzinga reports. They currently have a $100.00 price target on the electronics maker’s stock. Barrington Research’s price target would suggest a potential upside of 24.04% from the company’s previous close.

Several other equities research analysts have also issued reports on DLB. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 23rd.

Dolby Laboratories Trading Down 0.6 %

Shares of NYSE DLB opened at $80.62 on Monday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 29.75 and a beta of 0.98. Dolby Laboratories has a 12-month low of $66.35 and a 12-month high of $85.30. The firm’s 50-day moving average price is $79.18 and its 200-day moving average price is $75.62.

Insider Activity

In related news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the completion of the sale, the executive vice president now owns 62,397 shares in the company, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the completion of the transaction, the chief executive officer now owns 83,721 shares in the company, valued at $6,742,889.34. This represents a 37.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,917 shares of company stock valued at $10,877,739. 38.39% of the stock is currently owned by insiders.

Institutional Trading of Dolby Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. Boston Trust Walden Corp increased its holdings in Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares during the period. Clifford Capital Partners LLC lifted its holdings in shares of Dolby Laboratories by 3,114.7% in the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after buying an additional 262,162 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after buying an additional 85,093 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Dolby Laboratories during the second quarter valued at $6,131,000. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after acquiring an additional 63,589 shares in the last quarter. Institutional investors 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.