Dolby Laboratories (DLB) was Resumed by JP Morgan to “Neutral”. JP Morgan advised their investors in a research report released on Oct 4, 2016.
Many Wall Street Analysts have commented on Dolby Laboratories. Company shares were Reiterated by Dougherty & Company on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 57 from a previous price target of $54 .
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 opened for trading at $54.09 and hit $54.48 on the upside on Friday, eventually ending the session at $54.29, with a gain of 0.82% or 0.44 points. The heightened volatility saw the trading volume jump to 3,87,037 shares. Company has a market cap of $5,481 M.
In a different news, on Aug 31, 2016, Lewis Chew (EVP & Chief Financial Officer) sold 12,000 shares at $49.79 per share price. According to the SEC, on Aug 18, 2016, Michael Bergeron (SVP, WW Sales and Field Oper.) sold 50,000 shares at $49.10 per share price. On Aug 11, 2016, Kevin J Yeaman (President and CEO) sold 3,287 shares at $49.52 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.