Dolby Laboratories’ (DLB) Outperform Rating Reiterated at Barrington Research

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $100.00 target price on the electronics maker’s stock. Barrington Research’s price target points to a potential upside of 25.51% from the stock’s previous close.

Several other research firms have also commented on DLB. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday.

Dolby Laboratories Trading Down 1.0 %

DLB opened at $79.67 on Monday. Dolby Laboratories has a 12-month low of $66.35 and a 12-month high of $85.84. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 29.40 and a beta of 0.98. The stock has a fifty day simple moving average of $78.79 and a two-hundred day simple moving average of $75.60.

Insider Transactions at Dolby Laboratories

In related news, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the sale, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $4,871,957.76. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,917 shares of company stock worth $10,877,739. Corporate insiders own 38.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Dolby Laboratories by 4.4% during the second quarter. American Century Companies Inc. now owns 19,148 shares of the electronics maker’s stock valued at $1,517,000 after acquiring an additional 800 shares during the last quarter. Bank of Montreal Can increased its position in shares of Dolby Laboratories by 45.0% during the 2nd quarter. Bank of Montreal Can now owns 30,788 shares of the electronics maker’s stock valued at $2,465,000 after purchasing an additional 9,558 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Dolby Laboratories in the 2nd quarter worth approximately $6,131,000. Cubist Systematic Strategies LLC purchased a new position in shares of Dolby Laboratories in the second quarter worth approximately $146,000. Finally, Millennium Management LLC boosted its holdings in shares of Dolby Laboratories by 177.6% in the second quarter. Millennium Management LLC now owns 48,415 shares of the electronics maker’s stock worth $3,836,000 after buying an additional 30,977 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.