In a report released today, James Goss from Barrington maintained a Hold rating on Dolby Laboratories (DLB). The company’s shares closed last Friday at $96.15.
According to TipRanks.com, Goss is a 3-star analyst with an average return of 5.0% and a 46.5% success rate. Goss covers the Services sector, focusing on stocks such as Clear Channel Outdoor, Nexstar Media Group, and National Cinemedia.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dolby Laboratories with a $115.00 average price target.
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Based on Dolby Laboratories’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $320 million and net profit of $76.22 million. In comparison, last year the company earned revenue of $352 million and had a net profit of $88.5 million.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DLB in relation to earlier this year. Earlier this month, Lewis Chew, the EVP & CFO of DLB sold 30,918 shares for a total of $2,988,843.
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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.