Assenagon Asset Management S.A. Has $5.48 Million Position in Dolby Laboratories $DLB

Key Points

• Assenagon Asset Management increased its Dolby Laboratories stake by 88.9% in the second quarter, bringing its position to 104,202 shares valued at approximately $5.48 million. Institutional investors collectively own 58.56% of DLB.
• Dolby reported quarterly earnings of $0.69 per share, beating estimates of $0.67, while revenue fell 3.3% year over year to $305 million, below analyst expectations.
• The company authorized a $350 million share-repurchase program covering up to 7% of shares and declared a quarterly dividend of $0.36 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $90.75.

Assenagon Asset Management S.A. increased its stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 88.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,202 shares of the electronics maker's stock after acquiring an additional 49,044 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.11% of Dolby Laboratories worth $5,479,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Dolby Laboratories by 8.7% in the second quarter. State Street Corp now owns 2,261,059 shares of the electronics maker's stock worth $167,906,000 after acquiring an additional 180,072 shares in the last quarter. First Trust Advisors LP increased its stake in Dolby Laboratories by 19.9% during the 1st quarter. First Trust Advisors LP now owns 2,254,933 shares of the electronics maker's stock valued at $135,431,000 after purchasing an additional 374,405 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Dolby Laboratories by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 1,885,246 shares of the electronics maker's stock worth $122,749,000 after acquiring an additional 254,250 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Dolby Laboratories by 51.8% in the second quarter. AQR Capital Management LLC now owns 1,736,260 shares of the electronics maker's stock worth $128,935,000 after purchasing an additional 592,282 shares during the last quarter. Finally, Snyder Capital Management L P lifted its stake in Dolby Laboratories by 24.4% during the 4th quarter. Snyder Capital Management L P now owns 1,427,093 shares of the electronics maker's stock valued at $91,648,000 after acquiring an additional 279,743 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $61.33 on Thursday. The stock has a market capitalization of $5.74 billion, a PE ratio of 26.10 and a beta of 0.80. Dolby Laboratories has a one year low of $48.26 and a one year high of $75.66. The business's fifty day moving average price is $53.18 and its 200-day moving average price is $58.45.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The electronics maker reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $305.00 million during the quarter, compared to analyst estimates of $311.96 million. Dolby Laboratories had a return on equity of 11.08% and a net margin of 16.70%.The firm's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Dolby Laboratories has set its FY 2026 guidance at 4.250-4.400 EPS and its Q4 2026 guidance at 1.130-1.280 EPS. As a group, equities analysts expect that Dolby Laboratories will post 3.26 EPS for the current fiscal year.

Dolby Laboratories declared that its board has approved a share repurchase plan on Thursday, July 30th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 11th. This represents a $1.44 annualized dividend and a dividend yield of 2.3%. Dolby Laboratories's dividend payout ratio is currently 61.28%.

Insider Buying and Selling

In other news, CMO Todd Pendleton sold 11,876 shares of Dolby Laboratories stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $54.55, for a total value of $647,835.80. Following the completion of the transaction, the chief marketing officer directly owned 41,480 shares in the company, valued at approximately $2,262,734. The trade was a 22.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ryan Nicholson sold 1,348 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $62.04, for a total value of $83,629.92. Following the sale, the chief accounting officer owned 35,636 shares in the company, valued at approximately $2,210,857.44. The trade was a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,581 shares of company stock valued at $2,212,098 over the last three months. Insiders own 37.93% of the company's stock.

Analysts Set New Price Targets

DLB has been the topic of a number of research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $85.00 target price on shares of Dolby Laboratories in a research note on Friday, July 31st. Barrington Research reiterated an "outperform" rating and set a $90.00 target price on shares of Dolby Laboratories in a research note on Monday, June 15th. Weiss Ratings reissued a "hold (c-)" rating on shares of Dolby Laboratories in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus 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.

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