Dolby Laboratories, Inc. (DLB) CFO Lewis Chew Sells 35,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CFO Lewis Chew sold 35,000 shares of Dolby Laboratories stock in a transaction on Friday, February 8th. The stock was sold at an average price of $63.28, for a total transaction of $2,214,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

NYSE DLB opened at $64.03 on Wednesday. Dolby Laboratories, Inc. has a 52-week low of $58.17 and a 52-week high of $72.04. The firm has a market cap of $6.46 billion, a PE ratio of 26.68, a P/E/G ratio of 2.18 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, January 30th. The electronics maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.40. The company had revenue of $302.40 million during the quarter, compared to the consensus estimate of $295.04 million. Dolby Laboratories had a net margin of 25.47% and a return on equity of 11.30%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.80) EPS. On average, research analysts predict that Dolby Laboratories, Inc. will post 2.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 21st. Shareholders of record on Tuesday, February 12th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.19%. The ex-dividend date is Monday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 31.67%.

A number of analysts have recently issued reports on DLB shares. R. F. Lafferty dropped their price objective on shares of Dolby Laboratories from $81.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 22nd. B. Riley dropped their price objective on shares of Dolby Laboratories from $69.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Zacks Investment Research reaffirmed a “sell” rating on shares of Dolby Laboratories in a report on Tuesday, November 13th. Finally, Barrington Research reaffirmed a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $75.75.

A number of institutional investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can lifted its stake in Dolby Laboratories by 15.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 7,704 shares of the electronics maker’s stock worth $460,000 after purchasing an additional 1,009 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Dolby Laboratories in the fourth quarter worth $43,000. Advisor Group Inc. lifted its stake in Dolby Laboratories by 6.4% in the fourth quarter. Advisor Group Inc. now owns 9,753 shares of the electronics maker’s stock worth $604,000 after purchasing an additional 590 shares during the last quarter. Trigran Investments Inc. lifted its stake in Dolby Laboratories by 20.4% in the fourth quarter. Trigran Investments Inc. now owns 236,087 shares of the electronics maker’s stock worth $14,600,000 after purchasing an additional 40,000 shares during the last quarter. Finally, AlphaCrest Capital Management LLC bought a new stake in Dolby Laboratories in the fourth quarter worth $600,000. 56.19% of the stock is owned by institutional investors and hedge funds.

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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, 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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