The stock of Dolby Laboratories, Inc. (NYSE:DLB) hit a new 52-week high and has $88.61 target or 63.00% above today’s $54.36 share price. The 9 months bullish chart indicates low risk for the $5.55B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $88.61 price target is reached, the company will be worth $3.50B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 161,398 shares traded hands. Dolby Laboratories, Inc. (NYSE:DLB) has risen 36.31% since March 4, 2016 and is uptrending. It has outperformed by 28.27% the S&P500.
Analysts await Dolby Laboratories, Inc. (NYSE:DLB) to report earnings on October, 19. They expect $0.20 EPS, down 20.00% or $0.05 from last year’s $0.25 per share. DLB’s profit will be $20.42M for 67.94 P/E if the $0.20 EPS becomes a reality. After $0.65 actual EPS reported by Dolby Laboratories, Inc. for the previous quarter, Wall Street now forecasts -69.23% negative EPS growth.
Dolby Laboratories, Inc. (NYSE:DLB) Ratings Coverage
Out of 3 analysts covering Dolby Laboratories (NYSE:DLB), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $54 is the highest target while $38 is the lowest. The $45.67 average target is -15.99% below today’s ($54.36) stock price. Dolby Laboratories has been the topic of 4 analyst reports since October 22, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by B. Riley & Co given on Thursday, October 22. The rating was downgraded by JP Morgan to “Neutral” on Friday, April 8. The firm has “Buy” rating given on Thursday, April 28 by Dougherty & Company. The rating was upgraded by Dougherty & Company to “Buy” on Thursday, January 28.
According to Zacks Investment Research, “Dolby Laboratories creates audio, imaging, and voice technologies that transform entertainment and communications at the cinema, at home, at work and on mobile devices.”
Insitutional Activity: The institutional sentiment increased to 1.43 in 2016 Q2. Its up 0.38, from 1.05 in 2016Q1. The ratio is positive, as 12 funds sold all Dolby Laboratories, Inc. shares owned while 70 reduced positions. 48 funds bought stakes while 69 increased positions. They now own 49.19 million shares or 1.59% less from 49.98 million shares in 2016Q1.
Tower Capital Ltd Liability Company (Trc), a New York-based fund reported 293 shares. Glenmede Tru Na reported 126 shares or 0% of all its holdings. Blackrock Institutional Na owns 1.22M shares or 0.01% of their US portfolio. First Republic Inv Mgmt has 8,012 shares for 0% of their US portfolio. Grp Inc One Trading L P has invested 0% of its portfolio in Dolby Laboratories, Inc. (NYSE:DLB). Fiera Capital holds 0.22% or 809,060 shares in its portfolio. Jacobs Levy Equity Mngmt, a New Jersey-based fund reported 71,630 shares. Ameritas Inv Prns Inc holds 17,900 shares or 0.06% of its portfolio. Dimensional Fund Advsr Ltd Partnership has invested 0.01% of its portfolio in Dolby Laboratories, Inc. (NYSE:DLB). Cantab Capital Partners Limited Liability Partnership accumulated 45,854 shares or 0% of the stock. Blackrock Fund Advsrs, a California-based fund reported 496,935 shares. Pdt Prtn Limited Liability holds 0.2% of its portfolio in Dolby Laboratories, Inc. (NYSE:DLB) for 53,200 shares. Fincl Architects has 168 shares for 0% of their US portfolio. Stifel Financial holds 32,148 shares or 0.01% of its portfolio. The Illinois-based Zacks Mngmt has invested 0.03% in Dolby Laboratories, Inc. (NYSE:DLB).
Insider Transactions: Since April 28, 2016, the stock had 0 insider buys, and 35 sales for $110.21 million net activity. Another trade for 100,000 shares valued at $4.99 million was sold by Dolby Dagmar. On Monday, August 1 the insider Borchers Bob sold $432,277. 12,000 shares were sold by CHEW LEWIS, worth $597,480. The insider YEAMAN KEVIN J sold 3,287 shares worth $162,773. Another trade for 6,152 shares valued at $304,629 was sold by SHERMAN MARK ANDREW. The insider BERGERON MICHAEL sold 68,161 shares worth $3.40 million. Forshay Steven E sold $1.95 million worth of stock.
More notable recent Dolby Laboratories, Inc. (NYSE:DLB) news were published by: Fool.com which released: “Why Dolby Laboratories, Inc. Stock Rose 14%” on April 28, 2016, also Fool.com with their article: “Dolby Laboratories, Inc. Serves Up a Mix” published on October 24, 2015, Forbes.com published: “Ex-Dividend Reminder: Oaktree Capital Group, Apple and Dolby Laboratories” on August 02, 2016. More interesting news about Dolby Laboratories, Inc. (NYSE:DLB) were released by: Fool.com and their article: “Dolby Laboratories, Inc. Offers a Solid Earnings Beat” published on April 22, 2015 as well as Fool.com‘s news article titled: “Dolby Laboratories, Inc.’s Quarter: Loud Earnings, Quiet Revenue” with publication date: July 23, 2015.
DLB Company Profile
Dolby Laboratories, Inc., incorporated on September 1, 2004, creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Firm offers a range of digital signal processing and compression technologies. The Company’s technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences. It also provides services and products that enable content creators and distributors to produce, encode, transmit and playback content. It is also engaged in developing applications for voice conferencing, as well as imaging solutions that enable high dynamic range imaging (HDR) picture quality in televisions and cinemas.
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