The founder of one of the major players in the sound technology space Ray Dolby, who passed away in September of 2013, would be turning in his grave as a major development in the company has left the stock market in a state of shock. Major shareholder Dagmar Dolby sold 100,000 shares of the firm’s stock in a transaction on last Friday, 23 October. The stock was sold at an average price of $35.19, for a total value of $3,519,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10 per cent of a company’s shares are required to disclose their transactions with the SEC.
Dagmar Dolby also recently made the following trade(s):
- On Monday, October 19th, Dagmar Dolby sold 35,461 shares of Dolby Laboratories stock. The shares were sold at an average price of $35.01, for a total value of $1,241,489.61.
- On Friday, October 16th, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $35.00, for a total value of $1,750,000.00.
The firm also recently disclosed a Quarterly dividend, which will be paid on Tuesday, 10 November. Stockholders of record on Monday, 2 November will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, 29 October.
Dolby Laboratories opened at 34.48 on Tuesday. The firm has a market capitalization of $3.54 billion and a PE ratio of 19.93. The company has a 50-day moving average price of $33.01 and a 200-day moving average price of $36.44. Dolby Laboratories has a 12-month low of $29.87 and a 12-month high of $46.17.
Dolby Laboratories last issued its quarterly earnings data on Wednesday, 21 October. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.10. During the same period last year, the business earned $0.58 earnings per share. The business had revenue of $229.50 million for the quarter, compared to analysts’ expectations of $235.76 million. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.61 earnings per share for the current year.
Dolby Laboratories creates sound, imaging, and communicating technologies that transform entertainment and communications at the cinema, at home, at work and on mobile devices. The Business also develops technologies aimed at enhancing voice conferencing communications and imaging, and licenses its audio technologies. Also, the Business provides services and products which empower distributors and entertainment content creators to create, encode, transmit, and playback content for consumer experiences. The Company designs and produces imaging and audio products for cinema the movie generation, and television broadcast industries. Distributed in about 80 countries, improve transmission and playback, and these goods are utilized in content creation, distribution, and playback to boost image and sound quality.
