Dolby Labs has been added to the S&P Dow Jones MidCap 400 index. This – in effect – reward prompted an immediate 10.92 per cent rise in its share price on August 18th (to $84.81 per share) and means that Dolby’s stock has risen 20 per cent this year to date.

The inclusion in the ‘MidCap’ also resulted in some significant upgrades from stock-market analysts.

For example, Rosenblatt Securities have increased their price target on Dolby Labs from $93 to $98. The firm currently has a ‘buy’ rating on the stock. This new price target suggests a potential upside of 22.48 per cent from the stock’s previous closing price.

Tigress Financial reiterated a ‘buy’ rating with a $116.00 price target on the stock.

Dolby Laboratories is known for creating audio and imaging technologies that enhance entertainment experiences across various platforms. The company develops and licenses audio technologies such as AAC & HE-AAC, AVC, Dolby AC-4, and Dolby Atmos for cinema and media devices.

Dolby Labs results on August 3rd reported revenues of $298.4 million (€272.7m). up from $289.6 million on the same period last year. However, cash flow from operations fell to $121.1 million from $172.6 million last year.

“We continue to transform the way people enjoy their content,” said Kevin Yeaman, President and CEO, Dolby Labs. “We remain focused on growing Dolby Atmos and Dolby Vision across our movies and TV, music and user-generated content ecosystems.”

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Categories: Blogs, Business, Inside Satellite

Tags: Dolby, Dolby Atmos, Dolby Laboratories, Dolby Vision, S&P