Dolby Laboratories (NYSE:DLB - Get Free Report) will be announcing its earnings results after the market closes on Tuesday, November 19th. Analysts expect the company to announce earnings of $0.68 per share for the quarter. Parties that wish to listen to the company's conference call can do so using this link.
Dolby Laboratories Stock Performance
NYSE:DLB traded down $0.69 on Tuesday, reaching $74.78. The company's stock had a trading volume of 77,218 shares, compared to its average volume of 395,049. The firm has a market cap of $7.13 billion, a PE ratio of 34.34 and a beta of 0.98. The business's 50-day moving average price is $73.35 and its two-hundred day moving average price is $76.30. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $90.06.
Dolby Laboratories announced that its board has approved a stock repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Insider Transactions at Dolby Laboratories
In related news, CEO Kevin J. Yeaman sold 28,512 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the sale, the chief executive officer now owns 83,721 shares of the company's stock, valued at $6,205,400.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 39.54% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research firms have commented on DLB. StockNews.com upgraded Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Friday. Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th.
Check Out Our Latest Stock Report on DLB
About Dolby Laboratories
(
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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.
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