Ieq Capital LLC Buys Shares of 28,364 Dolby Laboratories $DLB

Key Points

• Ieq Capital LLC acquired a new stake in Dolby Laboratories, purchasing 28,364 shares valued at approximately $2.28 million, indicating institutional interest in the company.
• Insider trading activity revealed significant sales, with EVP Mark Andrew Sherman and CEO Kevin J. Yeaman selling 15,000 and 39,875 shares respectively, resulting in a decrease of their ownership stakes.
• Dolby Laboratories reported a positive earnings performance, with a quarterly revenue increase of 9.2% year-over-year, and declared a quarterly dividend of $0.33 per share, representing a yield of 1.8%.

Ieq Capital LLC bought a new position in Dolby Laboratories (NYSE:DLB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,364 shares of the electronics maker's stock, valued at approximately $2,278,000.

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

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of the firm's 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 in the company, valued at approximately $5,276,990.20. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer owned 114,725 shares in the company, valued at $8,583,724.50. This trade represents a 25.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,049 shares of company stock worth $9,920,281. Company insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Down 0.3%

DLB stock traded down $0.23 during midday trading on Friday, reaching $72.56. The stock had a trading volume of 371,551 shares, compared to its average volume of 437,321. The business has a fifty day simple moving average of $74.06 and a two-hundred day simple moving average of $75.82. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 26.58 and a beta of 0.93. Dolby Laboratories has a twelve month low of $68.24 and a twelve month high of $89.66.

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

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were issued 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 48.35%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Rosenblatt Securities restated a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a research note on Friday, August 1st. Baird R W upgraded Dolby Laboratories to a "hold" rating in a research note on Friday. Tigress Financial raised their target price on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Robert W. Baird assumed coverage on Dolby Laboratories in a research note on Friday. They issued a "neutral" rating and a $74.00 target price for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Dolby Laboratories has an average rating of "Moderate Buy" and an average price target of $95.75.

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.