Dolby Laboratories (DLB) was Reiterated by Dougherty & Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 57 from a previous price target of $54 . Dougherty & Company advised their investors in a research report released on Jul 28, 2016.
On the company’s financial health, Dolby Laboratories reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.66. The company had revenue of $277.60 million for the quarter, compared to analysts expectations of $268.04 million. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
Dolby Laboratories closed down -0.03 points or -0.06% at $49.93 with 15,92,071 shares getting traded on Thursday. Post opening the session at $45, the shares hit an intraday low of $45 and an intraday high of $51.44 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 18, 2016, Michael Bergeron (SVP, WW Sales and Field Oper.) sold 50,000 shares at $45.02 per share price. According to the SEC, on May 17, 2016, Lewis Chew (EVP & Chief Financial Officer) sold 20,000 shares at $45.49 per share price. On May 16, 2016, Roger S Siboni (director) sold 13,921 shares at $45.44 per share price, according to the Form-4 filing with the securities and exchange commission.
Dolby Laboratories Inc. (Dolby Laboratories) creates audio imaging and communication technologies that transform entertainment and communications at the cinema at home at work and on mobile devices. The Company licenses its audio technologies and also develops technologies aimed at enhancing voice conferencing communications and imaging. Additionally the Company provides products and services that enable entertainment content creators and distributors to produce encode transmit and playback content for consumer experiences. The Company designs and manufactures audio and imaging products for the film production cinema and television broadcast industries. Distributed in approximately 80 countries these products are used in content creation distribution and playback to enhance image and sound quality and improve transmission and playback.