Snyder Capital Management L P Has $83.03 Million Stake in Dolby Laboratories $DLB

Snyder Capital Management L P raised its holdings in shares of Dolby Laboratories (NYSE:DLB) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,147,350 shares of the electronics maker’s stock after purchasing an additional 117,229 shares during the quarter. Dolby Laboratories makes up 1.6% of Snyder Capital Management L P’s holdings, making the stock its 22nd biggest position. Snyder Capital Management L P’s holdings in Dolby Laboratories were worth $83,034,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Dolby Laboratories by 8.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,149,927 shares of the electronics maker’s stock valued at $83,220,000 after buying an additional 87,202 shares during the last quarter. Cresset Asset Management LLC increased its position in Dolby Laboratories by 10.7% during the 3rd quarter. Cresset Asset Management LLC now owns 2,991 shares of the electronics maker’s stock valued at $216,000 after buying an additional 290 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Dolby Laboratories by 33.5% in the third quarter. Victory Capital Management Inc. now owns 124,046 shares of the electronics maker’s stock worth $8,977,000 after purchasing an additional 31,159 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in shares of Dolby Laboratories by 119.1% during the third quarter. Elo Mutual Pension Insurance Co now owns 40,432 shares of the electronics maker’s stock valued at $2,926,000 after buying an additional 21,980 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Dolby Laboratories in the 3rd quarter worth about $185,000. 58.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Mark Andrew Sherman sold 9,109 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $66.73, for a total value of $607,843.57. Following the transaction, the executive vice president owned 73,054 shares of the company’s stock, valued at approximately $4,874,893.42. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ryan Nicholson sold 2,667 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $66.38, for a total transaction of $177,035.46. Following the transaction, the chief accounting officer directly owned 36,956 shares of the company’s stock, valued at $2,453,139.28. The trade was a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 92,424 shares of company stock worth $6,196,501 in the last three months. Corporate insiders own 37.93% of the company’s stock.

Dolby Laboratories Stock Up 0.1%

Shares of DLB opened at $64.80 on Thursday. The business has a 50-day simple moving average of $64.24 and a two-hundred day simple moving average of $67.38. Dolby Laboratories has a 52 week low of $60.14 and a 52 week high of $84.15. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 26.13 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $346.71 million during the quarter, compared to the consensus estimate of $341.26 million. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, equities analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.2%. Dolby Laboratories’s payout ratio is 58.06%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DLB. Barrington Research lowered their price objective on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, January 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a research note on Friday, January 30th. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.75.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.