A Director at Dolby Laboratories (NYSE: DLB) is Buying Shares

By Carrie Williams

Today, a Director at Dolby Laboratories (DLBResearch Report), David Dolby, bought shares of DLB for $69.48K.

Following David Dolby’s last DLB Buy transaction on November 15, 2017, the stock climbed by 9.3%. This recent transaction increases David Dolby’s holding in the company by 1.88% to a total of $4.87 million.

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Based on Dolby Laboratories’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $299 million and quarterly net profit of $43.92 million. In comparison, last year the company earned revenue of $265 million and had a net profit of $50.09 million. The company has a one-year high of $71.77 and a one-year low of $56.09. Currently, Dolby Laboratories has an average volume of 405.34K.

Starting in August 2019, DLB received 9 Buy ratings in a row. Three different firms, including B.Riley FBR and Barrington, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $6.98M worth of DLB shares and purchased $69.48K worth of DLB shares. The insider sentiment on Dolby Laboratories has been negative according to 78 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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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.