Dolby Laboratories (NYSE:DLB) Given “Buy” Rating at Rosenblatt Securities

Dolby Laboratories (NYSE:DLB)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They presently have a $100.00 price target on the electronics maker’s stock. Rosenblatt Securities’ target price suggests a potential upside of 23.44% from the company’s current price.

A number of other analysts also recently commented on DLB. Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, November 20th. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

Dolby Laboratories Stock Performance

DLB opened at $81.01 on Thursday. Dolby Laboratories has a one year low of $66.35 and a one year high of $86.37. The stock’s fifty day moving average is $78.48 and its 200-day moving average is $75.61. The company has a market capitalization of $7.73 billion, a PE ratio of 29.89 and a beta of 0.98.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction on Tuesday, December 17th. The stock was 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 in the company, valued at $4,871,957.76. The trade was a 16.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the transaction, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,917 shares of company stock worth $10,877,739 in the last three months. 38.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in shares of Dolby Laboratories by 211.8% during the fourth quarter. Pacer Advisors Inc. now owns 41,223 shares of the electronics maker’s stock valued at $3,220,000 after buying an additional 28,001 shares in the last quarter. KBC Group NV boosted its position in Dolby Laboratories by 56.4% during the fourth quarter. KBC Group NV now owns 2,476 shares of the electronics maker’s stock valued at $193,000 after purchasing an additional 893 shares during the last quarter. Blue Trust Inc. boosted its position in Dolby Laboratories by 14.7% during the fourth quarter. Blue Trust Inc. now owns 1,587 shares of the electronics maker’s stock valued at $121,000 after purchasing an additional 203 shares during the last quarter. Fifth Third Bancorp boosted its position in Dolby Laboratories by 82.7% during the fourth 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. Finally, SG Americas Securities LLC acquired a new stake in Dolby Laboratories during the fourth quarter valued at $3,543,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

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.