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

Dolby Laboratories, Inc. (NYSE:DLB)’s stock price reached 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 trading hands. The stock had previously closed at $77.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barrington Research raised shares of 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 raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th.

Dolby Laboratories Trading Down 1.1 %

The company has a market cap of $7.31 billion, a price-to-earnings ratio of 38.77 and a beta of 0.99. The stock’s 50-day moving average is $79.33 and its 200-day moving average is $80.95.

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

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total transaction of $181,772.46. Following the completion of the sale, 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 available at this hyperlink. Corporate insiders own 39.54% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in DLB. Raymond James Financial Services Advisors Inc. boosted its stake in Dolby Laboratories by 20.6% during the 4th 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 last quarter. Blue Trust Inc. lifted its holdings in shares of Dolby Laboratories by 75.7% in the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 159 shares in the last quarter. Fifth Third Bancorp boosted its position 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 buying an additional 164 shares during the last quarter. WoodTrust Financial Corp bought a new stake in Dolby Laboratories during the fourth quarter worth $215,000. Finally, Boston Trust Walden Corp raised its position in Dolby Laboratories by 1.0% in the 4th quarter. Boston Trust Walden Corp now owns 366,796 shares of the electronics maker’s stock valued at $31,610,000 after buying an additional 3,549 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

About Dolby Laboratories

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.