Rosenblatt Securities analyst Steve Frankel reiterated a Buy rating on Dolby Laboratories (DLB – Research Report) today and set a price target of $90.00. The company’s shares closed yesterday at $82.43.
According to TipRanks, Frankel is an analyst with an average return of -2.0% and a 47.80% success rate. Frankel covers the Technology sector, focusing on stocks such as Brightcove, Harmonic, and Dolby Laboratories.
Currently, the analyst consensus on Dolby Laboratories is a Strong Buy with an average price target of $98.67, representing a 19.70% upside. In a report released on April 14, Tigress Financial also reiterated a Buy rating on the stock with a $116.00 price target.
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DLB market cap is currently $8B and has a P/E ratio of 44.62.
Based on the recent corporate insider activity of 44 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. Most recently, in February 2023, Pendleton Todd, the SVP & CMO of DLB sold 28,701.00 shares for a total of $2,362,666.32.
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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.
Read More on DLB:
- Dolby Laboratories Announces Conference Call and Webcast for Q2 Fiscal 2023 Financial Results
- Dolby Showcases Global Momentum at CinemaCon 2023
- Dolby reports over 290 Dolby Cinema locations open globally
- Audible Launches Collection of Immersive, Cinematic Listening Experiences in Dolby Atmos
- Dolby Atmos arrives in PUBG MOBILE to bring immersive audio to the battleground
