Cambiar Investors LLC Lowers Position in Dolby Laboratories $DLB

Key Points

• Cambiar Investors LLC reduced its position in Dolby Laboratories by 11.4%, owning 109,949 shares worth approximately $8.83 million after selling 14,118 shares in the first quarter.
• Recent analyst reports have seen mixed opinions on Dolby, with Wall Street Zen lowering its rating from "buy" to "hold," while Tigress Financial increased its price objective and maintained a "buy" rating.
• Dolby Laboratories announced a quarterly dividend of $0.33 per share, reflecting an annualized dividend yield of 1.8%, with a payout ratio of 48.35% as of the latest filing.

Cambiar Investors LLC trimmed its position in Dolby Laboratories (NYSE:DLB - Free Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,949 shares of the electronics maker's stock after selling 14,118 shares during the quarter. Cambiar Investors LLC owned approximately 0.12% of Dolby Laboratories worth $8,830,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Dolby Laboratories in the 1st quarter valued at $25,000. Cheviot Value Management LLC acquired a new stake in shares of Dolby Laboratories in the 1st quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Dolby Laboratories in the 1st quarter valued at $29,000. Global X Japan Co. Ltd. acquired a new stake in shares of Dolby Laboratories in the 1st quarter valued at $51,000. Finally, Fifth Third Bancorp raised its holdings in shares of Dolby Laboratories by 84.7% in the 1st quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $95.00 price objective on shares of Dolby Laboratories in a report on Friday, August 1st. Tigress Financial lifted their price target on shares of Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Barrington Research reiterated an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $103.00.

Dolby Laboratories Stock Performance

NYSE DLB traded up $2.4830 during trading on Friday, reaching $75.3230. The company's stock had a trading volume of 254,725 shares, compared to its average volume of 427,087. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 27.59 and a beta of 0.91. Dolby Laboratories has a twelve month low of $68.24 and a twelve month high of $89.66. The business's fifty day moving average price is $74.29 and its 200-day moving average price is $76.72.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. The company had revenue of $315.55 million for the quarter, compared to analyst estimates of $305.23 million. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. Dolby Laboratories's quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 earnings per share. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. As a group, sell-side analysts forecast that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were paid a $0.33 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. Dolby Laboratories's payout ratio is currently 48.35%.

Insiders Place Their Bets

In other news, CEO Kevin J. Yeaman sold 39,875 shares of Dolby Laboratories stock in a transaction dated 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 sale, the chief executive officer owned 114,725 shares of the company's stock, valued at $8,583,724.50. The trade was a 25.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the completion of the sale, the executive vice president directly owned 62,397 shares in the company, valued at approximately $4,681,022.94. The trade was a 19.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,049 shares of company stock worth $10,521,141. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Company Profile

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.