Barrington Research Reiterates “Outperform” Rating for Dolby Laboratories (NYSE:DLB)

Dolby Laboratories (NYSE:DLB)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a research report issued on Monday,Benzinga reports. They presently have a $100.00 target price on the electronics maker’s stock. Barrington Research’s price target would indicate a potential upside of 24.04% from the stock’s current price.

Other analysts also recently issued reports about the company. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 23rd.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $80.62 on Monday. The firm’s 50 day moving average price is $79.18 and its 200-day moving average price is $75.62. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $85.30. The company has a market cap of $7.69 billion, a PE ratio of 29.75 and a beta of 0.98.

Insider Transactions at Dolby Laboratories

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 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 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 can be accessed through this link. Also, CAO Ryan Nicholson sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the sale, the chief accounting officer now owns 24,364 shares of the company’s stock, valued at $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 135,917 shares of company stock worth $10,877,739 in the last ninety days. Insiders own 38.39% of the company’s stock.

Hedge Funds Weigh In On Dolby Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Trust Walden Corp raised its stake in shares of Dolby Laboratories by 185.3% in 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 period. Clifford Capital Partners LLC raised its stake in 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 worth $20,707,000 after acquiring an additional 262,162 shares during the period. Thrivent Financial for Lutherans lifted its holdings 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 valued at $7,823,000 after purchasing an additional 85,093 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Dolby Laboratories in the second quarter worth approximately $6,131,000. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after buying an additional 63,589 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

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.