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

Dolby Laboratories (NYSE:DLB)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $100.00 price target on the electronics maker’s stock. Rosenblatt Securities’ target price suggests a potential upside of 24.08% from the company’s previous close.

DLB has been the topic of several other research reports. Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Monday. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

Dolby Laboratories Price Performance

DLB stock opened at $80.59 on Thursday. The company has a 50 day moving average price of $79.15 and a 200 day moving average price of $75.65. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $85.30. The stock has a market capitalization of $7.69 billion, a PE ratio of 29.74 and a beta of 0.98.

Insider Buying and Selling at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. The trade was a 30.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin J. Yeaman sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the completion of the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at $6,742,889.34. This trade represents a 37.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,917 shares of company stock valued at $10,877,739. 38.39% of the stock is currently owned by company insiders.

Institutional Trading of Dolby Laboratories

Institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Dolby Laboratories by 1.5% during the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after acquiring an additional 29,289 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Dolby Laboratories by 4.3% during 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. Disciplined Growth Investors Inc. MN raised its stake in shares of Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Dolby Laboratories by 0.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock valued at $84,715,000 after buying an additional 9,624 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Dolby Laboratories by 5.8% in the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after buying an additional 15,546 shares in the last quarter. 58.56% of the stock is currently owned by 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.