Dolby Laboratories (NYSE:DLB) Stock Rating Lowered by StockNews.com

Dolby Laboratories (NYSE:DLB - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Friday.

DLB has been the topic of a number of other reports. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Barrington Research restated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Monday, January 27th.

Dolby Laboratories Price Performance

Shares of NYSE DLB traded up $0.38 during trading hours on Friday, hitting $84.52. 486,496 shares of the stock were exchanged, compared to its average volume of 492,027. Dolby Laboratories has a one year low of $66.35 and a one year high of $89.66. The company's 50 day moving average is $79.42 and its 200 day moving average is $75.71. The firm has a market capitalization of $8.07 billion, a P/E ratio of 31.07 and a beta of 0.98.

Insider Buying and Selling

In other news, EVP Mark Andrew Sherman sold 12,338 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares of the company's stock, valued at approximately $4,871,957.76. This trade represents a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the sale, the director now directly owns 37,593 shares in the company, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,917 shares of company stock valued at $14,272,939 over the last ninety days. 38.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dolby Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock valued at $376,948,000 after acquiring an additional 1,887,518 shares during the period. State Street Corp grew its holdings in shares of Dolby Laboratories by 1.5% in the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker's stock worth $147,824,000 after purchasing an additional 29,289 shares during 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 in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in 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 valued at $112,209,000 after purchasing an additional 63,589 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in Dolby Laboratories by 0.9% during the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock worth $84,715,000 after buying an additional 9,624 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.