Dolby Laboratories (NYSE:DLB) Stock Rating Reaffirmed by Barrington Research

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating restated by equities research analysts at Barrington Research in a research report issued on Friday, Benzinga reports. They presently have a $100.00 price objective on the electronics maker’s stock. Barrington Research’s target price would suggest a potential upside of 37.12% from the stock’s current price.

Separately, Rosenblatt Securities restated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research report on Friday, June 7th.

Dolby Laboratories Trading Up 0.4 %

Shares of DLB stock traded up $0.32 during trading hours on Friday, hitting $72.93. 69,460 shares of the company were exchanged, compared to its average volume of 413,066. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $90.06. The firm has a fifty day simple moving average of $73.48 and a 200 day simple moving average of $78.36. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 37.21 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. The business had revenue of $288.82 million for the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. Sell-side analysts anticipate that Dolby Laboratories will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Dolby Laboratories by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after acquiring an additional 107,713 shares during the last quarter. Ninety One UK Ltd increased its stake in Dolby Laboratories by 2.6% in the second quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock valued at $185,791,000 after acquiring an additional 60,114 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Dolby Laboratories by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock valued at $194,702,000 after acquiring an additional 233,958 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Dolby Laboratories by 0.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock valued at $111,130,000 after buying an additional 10,852 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Dolby Laboratories by 3.5% during the second quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock valued at $80,041,000 after buying an additional 33,848 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

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.