Dolby Laboratories (NYSE:DLB) Sets New 52-Week Low – Should You Sell?

Dolby Laboratories (NYSE:DLB)’s share price reached a new 52-week low on Friday . The company traded as low as $64.38 and last traded at $64.59, with a volume of 194171 shares. The stock had previously closed at $65.01.

Wall Street Analyst Weigh In

Several analysts have issued reports on DLB shares. Robert W. Baird started coverage on Dolby Laboratories in a research report on Friday, September 5th. They set a “neutral” rating and a $74.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dolby Laboratories in a research report on Wednesday, October 8th. Baird R W upgraded Dolby Laboratories to a “hold” rating in a research note on Friday, September 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 target price on shares of Dolby Laboratories in a report on Friday, August 1st. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 12th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.75.

Dolby Laboratories Stock Performance

The company has a 50 day moving average of $69.89 and a two-hundred day moving average of $73.03. The stock has a market capitalization of $6.24 billion, a PE ratio of 23.85 and a beta of 0.97.

Insider Transactions at Dolby Laboratories

In related news, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total value of $524,440.00. Following the completion of the sale, the senior vice president directly owned 70,435 shares in the company, valued at $5,276,990.20. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Yeaman sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $68.87, for a total transaction of $1,721,750.00. Following the sale, the chief executive officer directly owned 114,725 shares in the company, valued at approximately $7,901,110.75. This represents a 17.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 82,000 shares of company stock worth $5,845,440 in the last 90 days. Insiders own 38.39% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Corp acquired a new position in shares of Dolby Laboratories in the 3rd quarter valued at $25,000. Hantz Financial Services Inc. grew its stake in Dolby Laboratories by 166.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of Dolby Laboratories in the first quarter valued at about $27,000. MAI Capital Management increased its holdings in shares of Dolby Laboratories by 87.1% in the first quarter. MAI Capital Management now owns 348 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 162 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Dolby Laboratories in the first quarter worth about $29,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.