B.Riley FBR Keeps a Hold Rating on Dolby Laboratories (DLB)


In a report released today, Eric Wold from B.Riley FBR maintained a Hold rating on Dolby Laboratories (DLB), with a price target of $67. The company’s shares closed yesterday at $61.58.

Wold commented:

“After the close on Laboratories (DLB) reported stronger-than- expected 1Q19 results as relatively in-line licensing revenues were bolstered by continued growth with the Dolby Cinema offering driving higher products and services revenues. We came away from our recent meetings with management in at CES in Las Vegas increasingly optimistic in the ability of both to gain increased penetration throughout the entire consumer electronics and mobile ecosystem—and, in turn, drive more predictable high-margin licensing revenue growth in the coming years.”

According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -2.7% and a 38.5% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

The word on The Street in general, suggests a Hold analyst consensus rating for Dolby Laboratories with a $67 average price target.

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Dolby Laboratories’ market cap is currently $6.36B and has a P/E ratio of 55.52. The company has a Price to Book ratio of 2.90.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. Most recently, in November 2018, Lewis Chew, the EVP & CFO of DLB sold 35,000 shares for a total of $2,430,116.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Dolby Laboratoties, Inc. designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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