Dolby Laboratories $DLB Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has increased its stake in Dolby Laboratories by 20.0% in the second quarter, bringing its total to 35,146 shares valued at approximately $2.61 million.
• Dolby Laboratories reported $0.78 earnings per share for the latest quarter, exceeding expectations and with a 9.2% year-over-year revenue growth to $315.55 million.
• The company announced a quarterly dividend of $0.33 per share, representing an annualized yield of 1.8% and a payout ratio of 48.35%.

Assenagon Asset Management S.A. increased its stake in Dolby Laboratories (NYSE:DLB - Free Report) by 20.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,146 shares of the electronics maker's stock after purchasing an additional 5,848 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Dolby Laboratories were worth $2,610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in shares of Dolby Laboratories by 8.6% in the 2nd quarter. Exchange Traded Concepts LLC now owns 12,776 shares of the electronics maker's stock worth $949,000 after acquiring an additional 1,008 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Dolby Laboratories by 43.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,356 shares of the electronics maker's stock worth $1,311,000 after purchasing an additional 5,215 shares during the period. Parallel Advisors LLC boosted its stake in Dolby Laboratories by 12.5% during the 2nd quarter. Parallel Advisors LLC now owns 5,659 shares of the electronics maker's stock valued at $420,000 after purchasing an additional 630 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Dolby Laboratories by 36.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,902 shares of the electronics maker's stock valued at $141,000 after purchasing an additional 511 shares during the period. Finally, Strs Ohio bought a new stake in shares of Dolby Laboratories in the 1st quarter worth $2,012,000. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

DLB stock opened at $71.43 on Friday. The firm has a market capitalization of $6.85 billion, a P/E ratio of 26.17 and a beta of 0.93. Dolby Laboratories has a 52-week low of $68.24 and a 52-week high of $89.66. The company's 50 day simple moving average is $73.13 and its 200-day simple moving average is $74.91.

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

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.33 per share. 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 dividend payout ratio (DPR) is presently 48.35%.

Insider Activity

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the transaction, the senior vice president 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin J. Yeaman sold 39,875 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $74.82, for a total transaction of $2,983,447.50. Following the completion of the sale, the chief executive officer directly owned 114,725 shares of the company's stock, valued at $8,583,724.50. This trade represents a 25.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,366 shares of company stock worth $7,293,963. Company insiders own 38.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Tigress Financial lifted their target price on Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Dolby Laboratories in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Robert W. Baird initiated coverage on shares of Dolby Laboratories in a report on Friday, September 5th. They set a "neutral" rating and a $74.00 target price for the company. Finally, Baird R W upgraded Dolby Laboratories to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.75.

Dolby Laboratories 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.

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