Candriam S.C.A. Purchases Shares of 28,664 Dolby Laboratories $DLB

Key Points

• Candriam S.C.A. has acquired a new stake in Dolby Laboratories, purchasing 28,664 shares valued at approximately $2.30 million.
• Institutional investors collectively own 58.56% of Dolby's stock, with several new positions established in the first quarter.
• Dolby recently announced a quarterly dividend of $0.33 per share, reflecting an annual yield of 1.7%, alongside a positive earnings report that surpassed expectations.

Candriam S.C.A. bought a new position in shares of Dolby Laboratories (NYSE:DLB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 28,664 shares of the electronics maker's stock, valued at approximately $2,302,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DLB. Alpine Bank Wealth Management bought a new position in shares of Dolby Laboratories during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC bought a new position in shares of Dolby Laboratories during the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Dolby Laboratories during the 1st quarter worth approximately $29,000. Global X Japan Co. Ltd. bought a new position in shares of Dolby Laboratories during the 1st quarter worth approximately $51,000. Finally, Fifth Third Bancorp boosted its stake in shares of Dolby Laboratories by 84.7% during the 1st quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock worth $53,000 after acquiring an additional 305 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

DLB traded down $0.21 during trading on Wednesday, hitting $72.82. The stock had a trading volume of 605,395 shares, compared to its average volume of 433,125. The company has a 50 day moving average price of $74.28 and a 200-day moving average price of $76.46. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 26.68 and a beta of 0.91. Dolby Laboratories has a one year low of $68.24 and a one year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $315.55 million during the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The firm's quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. 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 predict that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

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

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.92, for a total value of $524,440.00. Following the completion of the transaction, the senior vice president directly owned 70,435 shares of the company's stock, valued at $5,276,990.20. The trade was a 9.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the transaction, the executive vice president directly owned 62,397 shares of the company's stock, valued at $4,681,022.94. This represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,049 shares of company stock valued at $11,045,581 in the last three months. Corporate insiders own 38.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen downgraded Dolby Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Tigress Financial lifted their target price on Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Rosenblatt Securities reiterated a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research note on Friday, August 1st. Finally, Barrington Research restated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, May 2nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $103.00.

About Dolby Laboratories

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.