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

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a report released on Friday, Benzinga reports. They currently have a $100.00 price target on the electronics maker’s stock. Barrington Research’s target price indicates a potential upside of 37.12% from the company’s current price.

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

Dolby Laboratories Stock Performance

Shares of DLB traded up $0.32 during mid-day trading on Friday, reaching $72.93. 69,460 shares of the company were exchanged, compared to its average volume of 413,066. The business has a 50 day simple moving average of $73.48 and a two-hundred day simple moving average of $78.36. The stock has a market capitalization of $6.99 billion, a PE ratio of 37.21 and a beta of 0.97. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $90.06.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The firm had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. On average, analysts predict that Dolby Laboratories will post 2.72 EPS for the current year.

Institutional Trading of Dolby Laboratories

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in Dolby Laboratories in the 1st quarter valued at $33,000. Blue Trust Inc. grew its stake in shares of Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 331 shares in the last quarter. Quarry LP purchased a new stake in shares of Dolby Laboratories in the fourth quarter valued at about $37,000. Point72 Hong Kong Ltd bought a new position in shares of Dolby Laboratories during the second quarter valued at about $37,000. Finally, GAMMA Investing LLC boosted its holdings in Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds 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.