Jacobs Levy Equity Management Inc. Acquires 34,370 Shares of Dolby Laboratories $DLB

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Dolby Laboratories by 359.8%, owning 43,923 shares valued at approximately $3.53 million following the addition of 34,370 shares.
• Recent analyst ratings for Dolby have been generally positive, with a consensus rating of "Moderate Buy" and an average target price of $95.75, reflecting increasing confidence in the company's stock.
• Dolby Laboratories reported $0.78 EPS for the last quarter, surpassing estimates, and has set guidance for FY 2025 EPS between 3.880-4.030, indicating expected growth.

Jacobs Levy Equity Management Inc. grew its position in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 359.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,923 shares of the electronics maker's stock after acquiring an additional 34,370 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Dolby Laboratories were worth $3,527,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DLB. Securian Asset Management Inc. boosted its holdings in shares of Dolby Laboratories by 3.0% in the 1st quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker's stock valued at $373,000 after buying an additional 137 shares during the last quarter. MAI Capital Management raised its stake in Dolby Laboratories by 87.1% in the 1st quarter. MAI Capital Management now owns 348 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 162 shares during the period. Net Worth Advisory Group increased its position in Dolby Laboratories by 5.2% during the 1st quarter. Net Worth Advisory Group now owns 3,591 shares of the electronics maker's stock worth $288,000 after buying an additional 178 shares during the period. US Bancorp DE increased its position in Dolby Laboratories by 18.6% during the 1st quarter. US Bancorp DE now owns 1,444 shares of the electronics maker's stock worth $116,000 after buying an additional 226 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in shares of Dolby Laboratories by 2.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 8,635 shares of the electronics maker's stock worth $693,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Analyst Ratings Changes

DLB has been the topic of several research analyst reports. Wall Street Zen raised Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Rosenblatt Securities restated a "buy" rating and set a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, August 1st. Robert W. Baird began coverage on Dolby Laboratories in a research report on Friday, September 5th. They set a "neutral" rating and a $74.00 price objective for the company. Baird R W upgraded Dolby Laboratories to a "hold" rating in a report on Friday, September 5th. Finally, Tigress Financial boosted their price objective on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Dolby Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $95.75.

Insider Buying and Selling

In related news, SVP Shriram Revankar sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the completion of the transaction, the senior vice president owned 70,435 shares of the company's stock, valued at $5,276,990.20. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin J. Yeaman sold 39,875 shares of the firm's stock in a transaction that occurred on 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 directly owned 114,725 shares of the company's stock, valued at approximately $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 ninety days, insiders have sold 99,366 shares of company stock valued at $7,352,963. 38.39% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Up 1.2%

Shares of NYSE:DLB traded up $0.84 during trading on Monday, hitting $72.28. The stock had a trading volume of 34,741 shares, compared to its average volume of 429,910. Dolby Laboratories has a 12 month low of $68.24 and a 12 month high of $89.66. The company has a market capitalization of $6.93 billion, a PE ratio of 26.48 and a beta of 0.93. The firm's fifty day moving average is $73.73 and its 200 day moving average is $75.45.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $0.71 EPS. The business's revenue was up 9.2% compared to the same quarter last year. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. Equities research analysts expect that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Dolby Laboratories's dividend payout ratio (DPR) is 48.35%.

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.