GSA Capital Partners LLP Has $438,000 Position in Dolby Laboratories (DLB)

GSA Capital Partners LLP lifted its position in Dolby Laboratories (NYSE:DLB) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,950 shares of the electronics maker’s stock after purchasing an additional 1,016 shares during the period. GSA Capital Partners LLP’s holdings in Dolby Laboratories were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Watermark Asset Management Inc. acquired a new position in shares of Dolby Laboratories in the 1st quarter valued at $114,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Dolby Laboratories by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after purchasing an additional 209 shares during the period. US Bancorp DE lifted its stake in shares of Dolby Laboratories by 4.8% in the 1st quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock valued at $155,000 after purchasing an additional 135 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Dolby Laboratories by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock valued at $227,000 after purchasing an additional 205 shares during the period. Finally, CrestPoint Capital Management LLC acquired a new position in shares of Dolby Laboratories in the 2nd quarter valued at $240,000. Hedge funds and other institutional investors own 51.87% of the company’s stock.

DLB has been the subject of several analyst reports. BidaskClub cut shares of Dolby Laboratories from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Dougherty & Co reiterated a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a research note on Wednesday, September 13th. B. Riley reiterated a “buy” rating and issued a $61.50 target price on shares of Dolby Laboratories in a research note on Thursday, September 14th. Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Finally, Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Dolby Laboratories presently has an average rating of “Hold” and an average target price of $58.83.

In other Dolby Laboratories news, insider Kevin J. Yeaman sold 45,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.46, for a total value of $2,540,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 14,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.25, for a total value of $787,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,419,000 shares of company stock valued at $71,701,100. 43.80% of the stock is owned by corporate insiders.

Dolby Laboratories (DLB) opened at 58.95 on Friday. The company has a 50 day moving average of $55.25 and a 200 day moving average of $52.10. The firm has a market capitalization of $6.05 billion, a PE ratio of 30.15 and a beta of 0.85. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $59.79.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The company had revenue of $305.67 million during the quarter, compared to the consensus estimate of $296.88 million. During the same quarter last year, the company earned $0.62 earnings per share. Dolby Laboratories’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Dolby Laboratories will post $1.99 EPS for the current year.

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About Dolby Laboratories

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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