NEW YORK ( TheStreet) -- Dolby Laboratories (NYSE: DLB) hit a new 52-week low Monday as it is currently trading at $27.16, below its previous 52-week low of $27.36 with 86,622 shares traded as of 10:10 a.m. ET. Average volume has been 1.2 million shares over the past 30 days. Dolby has a market cap of $1.5 billion and is part of the technology sector and electronics industry. Shares are down 58.9% year to date as of the close of trading on Friday. Dolby Laboratories, Inc. develops and delivers products and technologies for the entertainment industry worldwide. It designs and manufactures video and audio products for film production, cinema, and television broadcast industries. The company has a P/E ratio of 11, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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