Rosenblatt Securities Reaffirms Buy Rating for Dolby Laboratories (NYSE:DLB)

Rosenblatt Securities restated their buy rating on shares of Dolby Laboratories (NYSE:DLB - Free Report) in a research report sent to investors on Thursday,Benzinga reports. Rosenblatt Securities currently has a $100.00 price objective on the electronics maker's stock.

Several other equities analysts have also issued reports on the company. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Monday, January 27th. 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 Stock Up 0.5 %

Dolby Laboratories stock traded up $0.42 during trading hours on Thursday, reaching $84.15. 531,556 shares of the company's stock were exchanged, compared to its average volume of 492,298. The firm's 50 day simple moving average is $79.42 and its 200 day simple moving average is $75.71. Dolby Laboratories has a twelve month low of $66.35 and a twelve month high of $89.66. The firm has a market capitalization of $8.03 billion, a PE ratio of 30.94 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories's dividend payout ratio is currently 48.53%.

Insider Activity at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 24,364 shares of the company's stock, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now directly owns 37,593 shares in the company, valued at $2,968,343.28. This represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,917 shares of company stock valued at $10,877,739. 38.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dolby Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after acquiring an additional 63,293 shares during the period. Lord Abbett & CO. LLC increased its position in shares of 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 purchasing an additional 15,546 shares during the last quarter. Barclays PLC raised its stake in shares of Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock worth $2,544,000 after purchasing an additional 14,825 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock worth $82,276,000 after buying an additional 698,283 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in Dolby Laboratories during the third quarter valued at about $3,031,000. Hedge funds and other 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.