Dolby Laboratories (NYSE:DLB) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Dolby Laboratories (NYSE:DLB) in a research note released on Monday morning, Benzinga reports. Rosenblatt Securities currently has a $98.00 target price on the electronics maker’s stock.

Separately, StockNews.com upgraded Dolby Laboratories from a hold rating to a buy rating in a research note on Friday, February 2nd.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $79.37 on Monday. The business’s 50 day simple moving average is $81.65 and its two-hundred day simple moving average is $83.30. The stock has a market capitalization of $7.59 billion, a P/E ratio of 41.12 and a beta of 0.97. Dolby Laboratories has a one year low of $75.87 and a one year high of $91.01.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. The firm had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Sell-side analysts expect that Dolby Laboratories will post 2.6 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s payout ratio is presently 62.18%.

Insider Activity at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the sale, the senior vice president now directly owns 108,519 shares in the company, valued at $8,769,420.39. The sale was disclosed in a document filed with the SEC, which is available at this link. 39.54% of the stock is owned by corporate insiders.

Institutional Trading of Dolby Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in Dolby Laboratories by 75.7% in the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 159 shares during the last quarter. VisionPoint Advisory Group LLC increased its stake in shares of Dolby Laboratories by 86.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 172 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Dolby Laboratories in the 1st quarter valued at about $33,000. Quarry LP acquired a new stake in Dolby Laboratories in the 4th quarter worth about $37,000. Finally, Fifth Third Bancorp boosted its holdings in Dolby Laboratories by 175.3% in the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after buying an additional 284 shares during 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.