Capital Fund Management S.A. reduced its stake in Dolby Laboratories Inc. (NYSE:DLB) by 61.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 25,455 shares of the company’s stock after selling 41,391 shares during the period. Capital Fund Management S.A.’s holdings in Dolby Laboratories were worth $1,218,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Dolby Laboratories during the fourth quarter valued at about $31,466,000. Aperio Group LLC boosted its position in shares of Dolby Laboratories by 8.4% in the first quarter. Aperio Group LLC now owns 25,153 shares of the company’s stock valued at $1,093,000 after buying an additional 1,941 shares during the last quarter. Ngam Advisors L.P. boosted its position in shares of Dolby Laboratories by 2.4% in the first quarter. Ngam Advisors L.P. now owns 53,019 shares of the company’s stock valued at $2,304,000 after buying an additional 1,266 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Dolby Laboratories by 64.6% in the first quarter. TIAA CREF Investment Management LLC now owns 246,515 shares of the company’s stock valued at $10,714,000 after buying an additional 96,736 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its position in shares of Dolby Laboratories by 35.1% in the first quarter. Teachers Advisors Inc. now owns 80,831 shares of the company’s stock valued at $3,513,000 after buying an additional 21,014 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dolby Laboratories Inc. (NYSE:DLB) traded down 0.96% during mid-day trading on Friday, reaching $54.43. The company had a trading volume of 506,785 shares. Dolby Laboratories Inc. has a 52 week low of $30.38 and a 52 week high of $55.02. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 26.55 and a beta of 0.57. The stock has a 50 day moving average of $51.50 and a 200-day moving average of $47.82.
Dolby Laboratories (NYSE:DLB) last announced its earnings results on Wednesday, July 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.25. Dolby Laboratories had a return on equity of 10.19% and a net margin of 20.19%. The company had revenue of $277.60 million for the quarter, compared to analyst estimates of $268.04 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, analysts expect that Dolby Laboratories Inc. will post $1.79 earnings per share for the current fiscal year.
Several research analysts have issued reports on DLB shares. Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 28th. B. Riley reissued a “neutral” rating and issued a $46.00 target price on shares of Dolby Laboratories in a research report on Monday, July 25th. Dougherty & Co raised their target price on Dolby Laboratories from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. started coverage on Dolby Laboratories in a research report on Tuesday. They issued a “neutral” rating and a $51.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Dolby Laboratories currently has an average rating of “Hold” and a consensus target price of $50.80.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 50,000 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $48.53, for a total transaction of $2,426,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin J. Yeaman sold 25,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. The disclosure for this sale can be found here. Corporate insiders own 45.16% of the company’s stock.
About Dolby Laboratories
Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.
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