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

Barrington Research reaffirmed their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research note published on Thursday,Benzinga reports. Barrington Research currently has a $100.00 price target on the electronics maker’s stock.

A number of other equities research analysts also recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st.

Dolby Laboratories Stock Down 0.7 %

Shares of NYSE DLB opened at $83.72 on Thursday. The stock’s 50-day simple moving average is $80.26 and its two-hundred day simple moving average is $76.07. Dolby Laboratories has a twelve month low of $66.35 and a twelve month high of $89.66. The firm has a market capitalization of $7.99 billion, a P/E ratio of 30.78 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.58%. Dolby Laboratories’s payout ratio is 48.53%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Gotcher sold 6,079 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the transaction, the director now directly owns 37,593 shares in the company, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,917 shares of company stock worth $14,861,429 over the last ninety days. Insiders own 38.39% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after purchasing an additional 1,887,518 shares during the last quarter. Norges Bank purchased a new position in shares of Dolby Laboratories in the fourth quarter worth $55,356,000. Boston Trust Walden Corp raised its holdings in Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after buying an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC boosted its position in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock valued at $20,707,000 after buying an additional 262,162 shares during the period. Finally, Oberweis Asset Management Inc. bought a new stake in Dolby Laboratories in the 4th quarter worth $14,136,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

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.