Teacher Retirement System of Texas boosted its stake in shares of Dolby Laboratories Inc. (NYSE:DLB) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 7,218 shares of the company’s stock after buying an additional 871 shares during the period. Teacher Retirement System of Texas’ holdings in Dolby Laboratories were worth $345,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. boosted its stake in Dolby Laboratories by 8.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,839,610 shares of the company’s stock worth $88,025,000 after buying an additional 139,658 shares during the last quarter. Columbus Circle Investors boosted its stake in Dolby Laboratories by 126.6% in the second quarter. Columbus Circle Investors now owns 771,271 shares of the company’s stock worth $36,905,000 after buying an additional 430,949 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Dolby Laboratories by 75.4% in the first quarter. Renaissance Technologies LLC now owns 696,300 shares of the company’s stock worth $30,261,000 after buying an additional 299,400 shares during the last quarter. Calamos Advisors LLC bought a new stake in Dolby Laboratories during the second quarter worth $19,638,000. Finally, Emerald Acquisition Ltd. bought a new stake in Dolby Laboratories during the second quarter worth $18,960,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.
Dolby Laboratories Inc. (NYSE:DLB) traded down 1.90% during midday trading on Thursday, reaching $51.68. The company’s stock had a trading volume of 132,128 shares. Dolby Laboratories Inc. has a 1-year low of $30.38 and a 1-year high of $55.02. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 25.21 and a beta of 0.57. The company’s 50-day moving average price is $51.78 and its 200-day moving average price is $48.08.
Dolby Laboratories (NYSE:DLB) last posted its quarterly 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. The business had revenue of $277.60 million for the quarter, compared to analyst estimates of $268.04 million. Dolby Laboratories had a return on equity of 10.19% and a net margin of 20.19%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. On average, analysts predict that Dolby Laboratories Inc. will post $1.79 earnings per share for the current fiscal year.
DLB has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. B. Riley restated a “neutral” rating and set 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 shares of 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. assumed coverage on shares of Dolby Laboratories in a research report on Tuesday, October 4th. They set 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 given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $50.80.
In related news, SVP Bob Borchers sold 8,649 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $49.98, for a total transaction of $432,277.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter C. Gotcher sold 28,584 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $49.88, for a total value of $1,425,769.92. The disclosure for this sale can be found here. Corporate insiders own 45.16% of the company’s stock.
Dolby Laboratories Company Profile
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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