Dolby Laboratories Inc. (NYSE:DLB): A Fundamentally Weighted Stock for Long-Term Investors

The stock of Dolby Laboratories Inc. (NYSE:DLB) last traded at $79.86, down -1.35% from the previous session.

Data from the available sources indicates that Dolby Laboratories Inc. (NYSE:DLB) is covered by 5 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $90.00 and a low of $90.00, we find $90.00. Given the previous closing price of $80.95, this indicates a potential upside of 11.18 percent. DLB stock price is now -0.13% away from the 50-day moving average and 7.78% away from the 200-day moving average. The market capitalization of the company currently stands at $7.78B.

In total, 1 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $90.00 as their price target over the next twelve months.

On May 24, 2022, Rosenblatt recently initiated its ‘Buy’ rating on the stock quoting a target price of $90, while ‘Barrington Research’ rates the stock as ‘Outperform’.

In other news, Rollins Emily, Director sold 1,000 shares of the company’s stock on Mar 01. The stock was sold for $82,040 at an average price of $82.04. Upon completion of the transaction, the Director now directly owns 6,541 shares in the company, valued at $0.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 24, Director Sud Anjali sold 8,873 shares of the business’s stock. A total of $727,548 was realized by selling the stock at an average price of $82.00. This leaves the insider owning 6,079 shares of the company worth $0.49 million. Insiders disposed of 310,222 shares of company stock worth roughly $24.77 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in DLB stock. A new stake in Dolby Laboratories Inc. shares was purchased by REDWOOD INVESTMENT MANAGEMENT, LLC during the first quarter worth $6,269,000. BALYASNY ASSET MANAGEMENT LLC invested $3,988,000 in shares of DLB during the first quarter. In the first quarter, ALPHACREST CAPITAL MANAGEMENT LLC acquired a new stake in Dolby Laboratories Inc. valued at approximately $3,955,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in DLB for approximately $3,861,000. PUTNAM INVESTMENTS LLC purchased a new stake in DLB valued at around $3,760,000 in the second quarter. In total, there are 528 active investors with 95.30% ownership of the company’s stock.

With an opening price of $79.94 on Wednesday morning, Dolby Laboratories Inc. (NYSE: DLB) set off the trading day. During the past 12 months, Dolby Laboratories Inc. has had a low of $61.55 and a high of $88.06. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.60, and a quick ratio of 4.60. The fifty day moving average price for DLB is $80.15 and a two-hundred day moving average price translates $74.12 for the stock.

The latest earnings results from Dolby Laboratories Inc. (NYSE: DLB) was released for Dec, 2022. According to the Specialty Business Services Company, earnings per share came in at $1.11, beating analysts’ expectations of $0.78 by 0.33. This compares to $0.77 EPS in the same period last year. The net profit margin was 14.80% and return on equity was 7.70% for DLB. The company reported revenue of $334.92 million for the quarter, compared to $351.63 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.75 percent. For the current quarter, analysts expect DLB to generate $350.56M in revenue.

Moreover, the firm recently paid out its quarterly dividend on 02/22/2023. Investors who held shares on 02/14/2023 were paid a $0.27 dividend. On an annualized basis, this represents a $1.08 dividend and a 1.35% percent yield. There was an ex-dividend date of 02/13/2023 for this dividend. In terms of dividend payout ratio, DLB is presently at 54.50%.

Dolby Laboratories Inc.(DLB) Company Profile

Dolby Laboratories, Inc. creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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. Its audio technologies also include DD, a digital audio coding technology that provides multichannel sound to applications; DD+, a digital audio coding technology that offers audio transmission for a range of media applications and devices; Dolby TrueHD, a digital audio coding technology providing encoding for media application; Dolby Vision, an imaging technology for cinema and media devices; Dolby Voice, an audio communications technology that emulates the in-person meeting experience; and HEVC, a digital video codec with high bandwidth efficiency for media devices. In addition, the company offers digital cinema servers, cinema processors, amplifiers, loudspeakers, and audio and imaging hardware and software products for the cinema, television, broadcast, communication, and entertainment industries. Further, it provides 3-D glasses and kits; and various services to support theatrical and television production for cinema exhibition, broadcast, and home entertainment. The company serves film studios, content creators, post-production facilities, cinema operators, broadcasters, and video game designers. It sells its products directly to the end users, as well as through dealers and distributors worldwide. Dolby Laboratories, Inc. was founded in 1965 and is headquartered in San Francisco, California.