Dolby Laboratories (NYSE:DLB) Earns Buy Rating from Rosenblatt Securities

Dolby Laboratories (NYSE:DLB)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $100.00 price objective on the electronics maker’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 19.57% from the company’s current price.

DLB has been the subject of several other reports. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. 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.

Dolby Laboratories Stock Down 4.2 %

Shares of Dolby Laboratories stock opened at $83.63 on Thursday. The business has a 50 day moving average of $79.35 and a 200 day moving average of $75.76. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $89.66. The company has a market cap of $7.98 billion, a PE ratio of 30.75 and a beta of 0.98.

Insiders Place Their Bets

In related news, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 owns 62,397 shares of the company’s stock, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,597,883. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,917 shares of company stock worth $10,877,739. 38.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dolby Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp grew its position in Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 163 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 301 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after buying an additional 142 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 525 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

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.