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Ray Dolby sells $2.6m stock
Chris Forrester
You can hardly blame Ray Dolby, founder of the Dolby Labs noise-reduction company that carries his name, from selling a few shares. This week they hit an all-time high of more than $69.
A year ago Dolby Labs were priced at barely $35 a share, and considered good value at the time. This week has seen their price fall back (to $63.47 on Wed) following Ray Dolby’s modest sale of 40,000 shares to gain him $2.6m. He still remains by far the largest stockholder of his business, which has seen this share-price buoyancy result from increased optimism for the company’s future and helped by an increased presence in markets like iTunes, Blu-ray DVDs and mobile handsets.
Dolby’s Q2 results showed revenue for the period up 19% from last year to $243m. Dolby Labs is sittings pretty in terms of its bank balance, a cash warchest, where cash and equivalents are up $44m from last year to $417m and with virtually no debt.
Chris Forrester
You can hardly blame Ray Dolby, founder of the Dolby Labs noise-reduction company that carries his name, from selling a few shares. This week they hit an all-time high of more than $69.
A year ago Dolby Labs were priced at barely $35 a share, and considered good value at the time. This week has seen their price fall back (to $63.47 on Wed) following Ray Dolby’s modest sale of 40,000 shares to gain him $2.6m. He still remains by far the largest stockholder of his business, which has seen this share-price buoyancy result from increased optimism for the company’s future and helped by an increased presence in markets like iTunes, Blu-ray DVDs and mobile handsets.
Dolby’s Q2 results showed revenue for the period up 19% from last year to $243m. Dolby Labs is sittings pretty in terms of its bank balance, a cash warchest, where cash and equivalents are up $44m from last year to $417m and with virtually no debt.