Dolby Laboratories Inc. (NYSE:DLB) saw an upside of 1.00% to close Monday at $85.66 after adding $0.85 on the day. The 5-day average trading volume is 3,134,460 shares of the company’s common stock. It has gained $86.62 in the past week and touched a new high 3 times within the past 5 days. An average of 1,085,875 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 622,888.
DLB’s 1-month performance is -3.54% or -$3.14 on its low of $75.87 reached on 08/16/23. The company’s shares have touched a 52-week low of $61.55 and high of $91.01, with the stock’s rally to the 52-week high happening on 07/13/23. YTD, DLB has achieved 21.43% or $15.12 and has reached a new high 15 times. However, the current price is down -5.88% from the 52-week high price.
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Insider Transactions
DLB stock investors last saw insider trading activity on Jul 13.YEAMAN KEVIN J (President and CEO) most recently sold 27,090 shares at $90.00 per share on Jul 13. This transaction cost the insider $2,438,100. EVP, Gen. Counsel & Secretary, SHERMAN MARK ANDREW, sold 21,000 shares at a price of $89.00 on Jul 12. Then, on Jul 11, President and CEO YEAMAN KEVIN J sold 18,060 shares at a price of $87.83 per share. This transaction amounted to $1,586,295.
Valuation Metrics
DLB stock has a beta of 0.98. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.76 while the price-to-book (PB) in the most recent quarter is 3.46, with the price to cash flow ratio at 24.69.
Dolby Laboratories Inc.’s quick ratio for the period ended June 29 was 3.40, with the current ratio over the same period at 3.50. In terms of profitability, the gross margin trailing 12 months is 88.00%. The trailing 12-month EBITDA margin is 25.59% while for the period ending June 29, Dolby Laboratories Inc.’s operating margin was 19.10%. The firm’s gross profit as reported stood at $1.11 billion against revenue of $1.25 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -141.46% to $16.4 million, while revenue of $95.7 million was -483.54% off the previous quarter. Analysts expected DLB to announce $0.55 per share in earnings in its latest quarter, but it posted $0.55, representing a 0.00% surprise. EBITDA for the quarter stood at more than $40.02 million. DLB stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 625.22 million, with total debt at $50.06 million. Shareholders hold equity totaling $95.64 million.
Let’s look briefly at Dolby Laboratories Inc. (DLB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 65.26% to suggest the stock is trending Neutral, with historical volatility in this time period at 50.88%.
The stock’s 5-day moving average is $80.10, reflecting a +9.81% or $7.65 change from its current price. DLB is currently trading -3.29% above its 20-day SMA, +2.91% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +2.59% and SMA200 by+26.68%.
Stochastic %K and %D was 51.17% and 27.26% and the average true range (ATR) pointed at 2.45. The RSI (14) points at 58.30%, while the 14-day stochastic is at 79.59% with the period’s ATR at 2.17. The stock’s 9-day MACD Oscillator is pointing at 3.63 and 2.38 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Dolby Laboratories Inc. (NYSE: DLB), Barrington Research downgraded it to a Mkt perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for DLB stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate DLB as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
What is DLB’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $98.00 and a high of $98.00, with their median price target at $98.00. Looking at these predictions, the average price target given by analysts is for Dolby Laboratories Inc. (DLB) stock is $98.00.
