Dolby Laboratories, Inc. (NYSE:DLB) SVP Steven E. Forshay Sells 15,921 Shares

Dolby Laboratories, Inc. (NYSE:DLB) SVP Steven E. Forshay sold 15,921 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $69.50, for a total transaction of $1,106,509.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Steven E. Forshay also recently made the following trade(s):

  • On Tuesday, November 26th, Steven E. Forshay sold 7,148 shares of Dolby Laboratories stock. The stock was sold at an average price of $69.50, for a total transaction of $496,786.00.
  • On Tuesday, November 19th, Steven E. Forshay sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $69.83, for a total transaction of $6,983,000.00.

NYSE DLB opened at $67.39 on Tuesday. The firm’s fifty day moving average price is $66.26 and its two-hundred day moving average price is $63.76. The stock has a market cap of $6.90 billion, a PE ratio of 27.62, a PEG ratio of 1.85 and a beta of 0.84. Dolby Laboratories, Inc. has a fifty-two week low of $56.09 and a fifty-two week high of $71.77.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, November 14th. The electronics maker reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). The business had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.55 million. Dolby Laboratories had a return on equity of 9.37% and a net margin of 20.56%. Dolby Laboratories’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, analysts expect that Dolby Laboratories, Inc. will post 2.87 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 36.07%.

A number of analysts have weighed in on DLB shares. Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a research note on Wednesday, September 18th. Dougherty & Co reaffirmed a “buy” rating on shares of Dolby Laboratories in a research note on Monday, November 11th. Barrington Research reaffirmed a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a research note on Thursday, November 21st. Zacks Investment Research cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating and set a $73.00 target price on the stock. in a research note on Monday, November 18th. Finally, ValuEngine raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Dolby Laboratories has an average rating of “Buy” and an average price target of $77.00.

Several large investors have recently modified their holdings of the company. Brinker Capital Inc. lifted its holdings in shares of Dolby Laboratories by 0.6% during the third quarter. Brinker Capital Inc. now owns 33,575 shares of the electronics maker’s stock worth $2,170,000 after purchasing an additional 204 shares during the period. Berkshire Asset Management LLC PA lifted its holdings in shares of Dolby Laboratories by 6.5% during the second quarter. Berkshire Asset Management LLC PA now owns 3,566 shares of the electronics maker’s stock worth $230,000 after purchasing an additional 218 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Dolby Laboratories by 20.5% during the second quarter. Parallel Advisors LLC now owns 1,300 shares of the electronics maker’s stock worth $84,000 after purchasing an additional 221 shares during the period. Signaturefd LLC lifted its holdings in shares of Dolby Laboratories by 17.4% during the second quarter. Signaturefd LLC now owns 1,812 shares of the electronics maker’s stock worth $117,000 after purchasing an additional 269 shares during the period. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of Dolby Laboratories by 3.8% during the second quarter. Vestmark Advisory Solutions Inc. now owns 8,219 shares of the electronics maker’s stock worth $531,000 after purchasing an additional 299 shares during the period. Institutional investors own 57.78% of the company’s stock.

Dolby Laboratories Company Profile

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, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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