Dolby Laboratories $DLB Stake Boosted by Comerica Bank

Key Points

• Comerica Bank increased its holdings in Dolby Laboratories by 83.2% in Q1, owning 105,570 shares worth approximately $8.48 million.
• Dolby reported earnings per share of $0.78 for the recent quarter, outperforming analysts' expectations, with a revenue increase of 9.2% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, representing an annualized yield of 1.8%.

Comerica Bank grew its stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 83.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,570 shares of the electronics maker's stock after acquiring an additional 47,936 shares during the quarter. Comerica Bank owned about 0.11% of Dolby Laboratories worth $8,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DLB. Alpine Bank Wealth Management acquired a new position in shares of Dolby Laboratories during the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new stake in Dolby Laboratories during the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Dolby Laboratories during the 1st quarter worth approximately $29,000. Global X Japan Co. Ltd. acquired a new stake in Dolby Laboratories during the 1st quarter worth approximately $51,000. Finally, Fifth Third Bancorp increased its position in 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 purchasing an additional 305 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of research analyst reports. Tigress Financial increased their target price on shares of Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Rosenblatt Securities reissued a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $103.00.

Dolby Laboratories Price Performance

NYSE DLB traded down $0.46 on Monday, reaching $71.68. The company had a trading volume of 400,469 shares, compared to its average volume of 452,630. The firm has a market capitalization of $6.87 billion, a PE ratio of 26.26 and a beta of 0.93. Dolby Laboratories has a 1 year low of $68.24 and a 1 year high of $89.66. The firm has a 50-day moving average of $74.24 and a 200-day moving average of $76.17.

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 for the quarter, topping analysts' consensus estimates of $0.72 by $0.06. The firm had revenue of $315.55 million during the quarter, compared to analysts' expectations of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.Dolby Laboratories's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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 expect that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

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

Insider Activity

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