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

Dolby Laboratories (NYSE:DLB)‘s stock had its “buy” rating reiterated by research analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $100.00 target price on the electronics maker’s stock. Rosenblatt Securities’ target price points to a potential upside of 23.44% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Dolby Laboratories Stock Performance

DLB stock opened at $81.01 on Thursday. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $86.37. The firm has a market cap of $7.73 billion, a P/E ratio of 29.89 and a beta of 0.98. The stock has a 50-day simple moving average of $78.48 and a 200-day simple moving average of $75.61.

Insider Buying and Selling at Dolby Laboratories

In other news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares in the company, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total value of $4,002,000.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,548,752.24. The trade was a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,917 shares of company stock worth $10,877,739 in the last 90 days. 38.39% of the stock is owned by corporate insiders.

Institutional Trading of Dolby Laboratories

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after purchasing an additional 63,293 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Dolby Laboratories by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after acquiring an additional 15,546 shares in the last quarter. Barclays PLC raised its stake in Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after acquiring an additional 14,825 shares in the last quarter. Boston Trust Walden Corp raised its stake 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 acquiring an additional 698,283 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Dolby Laboratories by 47.5% during the 2nd quarter. Pacer Advisors Inc. now owns 23,320 shares of the electronics maker’s stock valued at $1,848,000 after acquiring an additional 7,509 shares in 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.