DLB Dolby Laboratories Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : DLB Dolby Laboratories

DLB 81.93

+2.4%

Mar 14 3:59 PM EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Cooters	2/2/2024 8:45:21 AM
	of 321

CFRA Reiterates Hold Rating On Shares Of Dolby Laboratories, Inc. We raise our target price by $2 to $89, utilizing a P/E of 23.5x our FY 24 (Sep.) EPS view, near peers and DLB's 3-year historical average (~23x). We increase our FY 24 EPS estimate by $0.09 to $3.77 and lower our FY 25 estimate by $0.05 to $3.95. DLB prints Dec-Q sales of $316M (-6% Y/Y) and EPS of $1.01 (-9%), both above consensus. We expect a continued soft environment for both Licensing (sales down 5% Y/Y) and Products & Services (-19%), driven by weak consumer device sales amid continued macro uncertainty. DLB reiterated its mid-term target for a 15-25% revenue CAGR for its imaging patents and Dolby Atmos/Dolby Vision products despite expectations of just high-single-digit growth in FY 24. We think this can be achieved given encouraging anecdotal data around Atmos/Vision availability from content providers (with increasing momentum in sporting events) and a growing pipeline of automotive OEM design-wins (13 total, up from 10 exiting FY 23), but we skew our outlook towards the lower end of the range.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next