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Technology Stocks : DLB Dolby Laboratories -- Ignore unavailable to you. Want to Upgrade?

To: Cooters who wrote (240)11/16/2020 11:26:24 AM
From: Cooters  Respond to of 282
12:36 pm ET November 13, 2020
We lift our 12-month target to $84 from $72 on 25.0x our FY 21 (Sep.) EPS estimate and near the middle of DLB's three-year trading band. We keep our FY 21 EPS estimate of $3.36 and set FY 22's EPS at $3.58. DLB prints adjusted Sep-Q EPS of $0.45 vs. $0.66 the year prior, and exceeded consensus by $0.11. Quarterly revenues were down 9% to $271M, but topped consensus by $26M - the beat was largely attributed to a larger-than-expected true-up ($25M vs. $15M) related to shipments in Broadcast (TVs and set-top boxes) and PCs. Gross margin came in below expectations (85.1% vs. 86.5%) on charges related to obsolete inventory in conferencing hardware. DLB's revenue outlook for Dec-Q (Q1 FY 21) was above expectations ($330M-$360M vs. $278M) as large recoveries related to its largest mobile customer are pulled forward from Mar-Q (Q2 FY 21). DLB's expanded role in flagship handsets and new products in communications ( remain encouraging, but largely reflected in the current valuation multiple, in our view.

To: Cooters who wrote (240)11/16/2020 11:28:48 AM
From: slacker7111 Recommendation

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  Respond to of 282
Dolby price target raised to $79 from $73 at B. Riley Securities 07:56 DLB B. Riley Securities analyst Eric Wold raised the firm's price target on Dolby to $79 from $73 and keeps a Neutral rating on the shares following the company's better than expected fiscal Q4 results. The analysis continues to believe the combination of continued expansion of Dolby Vision and Dolby Atmos throughout the consumer electronics ecosystem "provides an attractive setup" for expanding EBTIDA and cash flows in the coming years.

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