Dolby Laboratories (DLB) to Release Quarterly Earnings on Tuesday

Dolby Laboratories (NYSE:DLB) is set to post its quarterly earnings results after the market closes on Tuesday, November 19th. Analysts expect Dolby Laboratories to post earnings of $0.68 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Dolby Laboratories Trading Down 2.0 %

NYSE:DLB opened at $71.73 on Monday. The company has a market capitalization of $6.84 billion, a P/E ratio of 32.75 and a beta of 0.98. Dolby Laboratories has a 12 month low of $66.35 and a 12 month high of $90.06. The business’s 50-day moving average is $73.62 and its 200 day moving average is $76.15.

Dolby Laboratories announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on DLB shares. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, September 20th.

Insiders Place Their Bets

In related news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction on 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 owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This trade represents a 25.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.54% of the stock is currently owned by insiders.

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.