Dolby Laboratories (NYSE:DLB) Rating Lowered to “Buy” at StockNews.com

Dolby Laboratories (NYSE:DLB) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities research analysts have also commented on DLB. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Monday, January 27th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday.

Dolby Laboratories Stock Down 4.2 %

Shares of DLB stock opened at $83.63 on Friday. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $89.66. The stock has a market cap of $7.98 billion, a PE ratio of 30.75 and a beta of 0.98. The business has a 50-day simple moving average of $79.35 and a 200-day simple moving average of $75.73.

Insiders Place Their Bets

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 value of $963,351.04. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP John D. Couling sold 7,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares in the company, valued at $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,917 shares of company stock worth $10,877,739. Company insiders own 38.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Trust Walden Corp boosted its stake in Dolby Laboratories by 185.3% during the third 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. Clifford Capital Partners LLC boosted its position in shares of Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock valued at $20,707,000 after acquiring an additional 262,162 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the period. Thrivent Financial for Lutherans increased its position in Dolby Laboratories by 496.7% during the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after purchasing an additional 85,093 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

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.