Barrington Research Reiterates “Outperform” Rating for Dolby Laboratories (NYSE:DLB)

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating reaffirmed by stock analysts at Barrington Research in a research report issued on Thursday,Benzinga reports. They currently have a $100.00 price objective on the electronics maker’s stock. Barrington Research’s target price would indicate a potential upside of 19.44% from the stock’s previous close.

DLB has been the topic of a number of other reports. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th.

Dolby Laboratories Stock Down 0.7 %

Shares of DLB opened at $83.72 on Thursday. Dolby Laboratories has a 12-month low of $66.35 and a 12-month high of $89.66. The business’s fifty day moving average is $80.26 and its 200 day moving average is $76.09. The stock has a market cap of $7.99 billion, a P/E ratio of 30.78 and a beta of 0.98.

Insider Activity at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the sale, the chief accounting officer now directly owns 24,364 shares of the company’s stock, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,917 shares of company stock valued at $14,861,429. 38.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Dolby Laboratories

Large investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its position in shares of Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 163 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 301 shares during the last quarter. Mather Group LLC. increased its position in shares of Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Dolby Laboratories in the 4th quarter worth about $57,000. Finally, First Horizon Advisors Inc. increased its holdings in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

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.