Dolby Laboratories (NYSE:DLB - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,820,000 shares, a growth of 20.5% from the August 15th total of 1,510,000 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average trading volume of 400,000 shares, the days-to-cover ratio is presently 4.6 days. Based on an average trading volume of 400,000 shares, the days-to-cover ratio is presently 4.6 days. Approximately 3.0% of the shares of the stock are sold short.
Insider Buying and Selling
In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total transaction of $524,440.00. Following the completion of the transaction, the senior vice president directly owned 70,435 shares in the company, valued at $5,276,990.20. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Yeaman sold 39,875 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total value of $2,983,447.50. Following the completion of the sale, the chief executive officer directly owned 114,725 shares in the company, valued at approximately $8,583,724.50. This represents a 25.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,366 shares of company stock worth $9,144,463 over the last three months. 38.39% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Dolby Laboratories
A number of institutional investors and hedge funds have recently made changes to their positions in DLB. Osaic Holdings Inc. raised its holdings in shares of Dolby Laboratories by 165.8% in the second quarter. Osaic Holdings Inc. now owns 2,541 shares of the electronics maker's stock valued at $195,000 after purchasing an additional 1,585 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in Dolby Laboratories by 7.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,575 shares of the electronics maker's stock valued at $1,751,000 after acquiring an additional 1,555 shares during the period. Thrivent Financial for Lutherans raised its stake in Dolby Laboratories by 1.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 67,992 shares of the electronics maker's stock valued at $5,050,000 after acquiring an additional 679 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Dolby Laboratories during the second quarter valued at about $206,000. Finally, State of Wyoming boosted its position in Dolby Laboratories by 384.8% during the second quarter. State of Wyoming now owns 7,989 shares of the electronics maker's stock worth $593,000 after purchasing an additional 6,341 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.
Dolby Laboratories Price Performance
Shares of Dolby Laboratories stock traded up $0.66 during trading on Thursday, reaching $72.11. 387,109 shares of the company traded hands, compared to its average volume of 437,659. Dolby Laboratories has a 1-year low of $68.24 and a 1-year high of $89.66. The company has a 50 day moving average price of $73.45 and a 200-day moving average price of $75.27. The firm has a market capitalization of $6.91 billion, a PE ratio of 26.41 and a beta of 0.93.
Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The business had revenue of $315.55 million during the quarter, compared to analysts' expectations of $305.23 million. During the same period last year, the company posted $0.71 earnings per share. The business's quarterly revenue was up 9.2% on a year-over-year basis. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. Equities research analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.
Dolby Laboratories Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. Dolby Laboratories's payout ratio is currently 48.35%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Tigress Financial lifted their target price on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 12th. Baird R W raised shares of Dolby Laboratories to a "hold" rating in a research note on Friday, September 5th. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $95.00 price target on shares of Dolby Laboratories in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $95.75.
Read Our Latest Stock Analysis on DLB
About Dolby Laboratories
(
Get Free Report)
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.
Further Reading
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