Dolby Laboratories (NYSE:DLB) Upgraded at StockNews.com

StockNews.com upgraded shares of Dolby Laboratories (NYSE:DLB) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

Separately, Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Friday, September 20th.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $75.15 on Friday. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $90.06. The firm has a market capitalization of $7.17 billion, a PE ratio of 34.32 and a beta of 0.98. The stock has a fifty day moving average of $73.26 and a two-hundred day moving average of $76.33.

Dolby Laboratories declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,205,400.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 39.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in shares of Dolby Laboratories by 398.8% during the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 331 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Dolby Laboratories during the second quarter valued at $37,000. GAMMA Investing LLC boosted its position in shares of Dolby Laboratories by 64.6% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 379 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Dolby Laboratories by 693.3% in the 1st quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 520 shares in the last quarter. Institutional investors 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.