Dolby Laboratories (DLB) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($0.94 million) and the uptick to downtick ratio was 0.21. The transaction value on upticks was $0.25 million and on downticks, the transaction value was $1.19 million. The transaction value of block trades during downticks was $1.1 million. The money flow was negative ($1.1 million), indicating the traders were booking profit on the price strength. Dolby Laboratories (DLB) rose $0.19 at $49.13, during intraday Wednesday , a rise of 0.39% over the previous days close.
Also, Equity Analysts at the JP Morgan downgrades the rating on Dolby Laboratories (NYSE:DLB). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Overweight. The Analysts at the ratings agency maintains the price target to $42 per share. The rating by the firm was issued on April 8, 2016.
Dolby Laboratories (NYSE:DLB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.07 and $49.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $49.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $49.35, notching a gain of 0.84% for the day. The total traded volume was 391,356 . The stock had closed at $48.94 on the previous day.
The stock has recorded a 20-day Moving Average of 2.57% and the 50-Day Moving Average is 4.55%. In a related news,The officer (SVP, WW Sales and Field Oper.) of Dolby Laboratories, Inc., Bergeron Michael sold 50,000 shares at $45.02 on May 17, 2016. The Insider selling transaction had a total value worth of $2,251,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.