Key Points
- Dolby Laboratories SVP John Couling sold 7,667 shares at an average price of $58.78, totaling $450,666.26 and reducing his ownership by 4.39%.
- Dolby reported quarterly EPS of $0.69, beating estimates of $0.67, but revenue fell 3.3% year over year to $305 million. The company also authorized a $350 million stock buyback and pays a $0.36 quarterly dividend.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $87.50, while institutional investors own 58.56% of the company’s shares.
Dolby Laboratories (NYSE:DLB - Get Free Report) SVP John Couling sold 7,667 shares of Dolby Laboratories stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $58.78, for a total transaction of $450,666.26. Following the sale, the senior vice president owned 166,803 shares in the company, valued at approximately $9,804,680.34. This represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Dolby Laboratories Stock Up 0.8%
DLB stock opened at $59.35 on Tuesday. The company has a 50-day simple moving average of $60.52 and a 200 day simple moving average of $57.61. The company has a market capitalization of $5.56 billion, a P/E ratio of 25.26 and a beta of 0.78. Dolby Laboratories has a fifty-two week low of $48.26 and a fifty-two week high of $72.96.
Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Thursday, July 30th. The electronics maker reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. Dolby Laboratories had a net margin of 16.70% and a return on equity of 11.08%. The firm had revenue of $305.00 million for the quarter, compared to analysts' expectations of $311.96 million. During the same quarter last year, the company earned $0.78 EPS. Dolby Laboratories's quarterly revenue was down 3.3% on a year-over-year basis. Dolby Laboratories has set its FY 2026 guidance at 4.250-4.400 EPS and its Q4 2026 guidance at 1.130-1.280 EPS. Equities analysts anticipate that Dolby Laboratories will post 3.23 EPS for the current year.
Dolby Laboratories declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 30th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the electronics maker to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.
Dolby Laboratories Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Tuesday, August 11th were issued a $0.36 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $1.44 annualized dividend and a dividend yield of 2.4%. Dolby Laboratories's dividend payout ratio is 61.28%.
Institutional Investors Weigh In On Dolby Laboratories
Several hedge funds have recently modified their holdings of DLB. Bank of New York Mellon Corp acquired a new position in shares of Dolby Laboratories in the second quarter worth $253,289,000. Norges Bank purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth $54,966,000. First Trust Advisors LP boosted its position in Dolby Laboratories by 19.9% during the first quarter. First Trust Advisors LP now owns 2,254,933 shares of the electronics maker's stock valued at $135,431,000 after purchasing an additional 374,405 shares during the last quarter. Fiera Capital Corp boosted its position in Dolby Laboratories by 31.8% during the fourth quarter. Fiera Capital Corp now owns 812,021 shares of the electronics maker's stock valued at $52,148,000 after purchasing an additional 195,795 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Dolby Laboratories by 507.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 124,509 shares of the electronics maker's stock valued at $7,478,000 after purchasing an additional 104,014 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price target on shares of Dolby Laboratories in a research report on Friday, August 28th. Wall Street Zen lowered shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of Dolby Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, September 9th. Finally, Barrington Research reiterated an "outperform" rating and issued a $90.00 target price on shares of Dolby Laboratories in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.50.
View Our Latest Report on DLB
About Dolby Laboratories
(
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Dolby Laboratories, Inc develops audio and imaging technologies for entertainment and communications. The company's products and intellectual property are used in cinemas, televisions, mobile devices, personal computers, streaming platforms, gaming systems and automobiles to improve sound quality, picture quality and overall viewing experiences.
Dolby's technology portfolio includes Dolby Atmos immersive audio, Dolby Vision high-dynamic-range imaging, and Dolby Digital and Dolby AC-4 audio formats.
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