Lazard Asset Management LLC Lowers Position in Dolby Laboratories $DLB

Key Points

• Lazard Asset Management cut its Dolby Laboratories stake by 6.7% in the first quarter, selling 27,748 shares and retaining 387,100 shares worth approximately $23.25 million. Institutional investors collectively own 58.56% of the company.
• Analyst sentiment remains favorable, with three Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $90.75.
• Dolby’s latest quarterly results exceeded expectations, with EPS of $1.37 versus $1.31 expected and revenue of $395.63 million, up 7% year over year. The stock opened at $52.44, near its 52-week low of $48.26.

Lazard Asset Management LLC lessened its stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 387,100 shares of the electronics maker's stock after selling 27,748 shares during the period. Lazard Asset Management LLC owned 0.41% of Dolby Laboratories worth $23,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Dolby Laboratories by 3.5% during the 1st quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker's stock valued at $5,491,000 after buying an additional 2,298 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Dolby Laboratories by 218.8% during the first quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker's stock valued at $20,043,000 after purchasing an additional 171,288 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Dolby Laboratories by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker's stock worth $19,131,000 after purchasing an additional 12,598 shares during the period. Focus Partners Wealth purchased a new stake in shares of Dolby Laboratories in the first quarter worth $390,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Dolby Laboratories by 273.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,598 shares of the electronics maker's stock valued at $193,000 after purchasing an additional 1,902 shares during the period. Hedge funds and other institutional investors own 58.56% of the company's stock.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Dolby Laboratories in a research note on Wednesday, June 24th. Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Barrington Research reissued an "outperform" rating and set a $90.00 target price on shares of Dolby Laboratories in a research note on Monday, June 15th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $85.00 price target on shares of Dolby Laboratories in a research note on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Dolby Laboratories currently has an average rating of "Moderate Buy" and an average price target of $90.75.

Insider Transactions at Dolby Laboratories

In other news, CFO Robert J. Park sold 4,895 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.68, for a total transaction of $277,448.60. Following the completion of the transaction, the chief financial officer directly owned 81,490 shares in the company, valued at approximately $4,618,853.20. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John D. Couling sold 7,667 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.20, for a total transaction of $407,884.40. Following the completion of the sale, the senior vice president owned 118,727 shares in the company, valued at $6,316,276.40. This represents a 6.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 47,458 shares of company stock valued at $2,639,537 over the last 90 days. Insiders own 37.93% of the company's stock.

Dolby Laboratories Stock Up 2.3%

DLB opened at $52.44 on Wednesday. The company has a market capitalization of $4.96 billion, a PE ratio of 20.73 and a beta of 0.81. The firm has a 50-day simple moving average of $52.28 and a two-hundred day simple moving average of $58.74. Dolby Laboratories has a 52 week low of $48.26 and a 52 week high of $76.70.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its earnings results on Thursday, April 30th. The electronics maker reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.06. Dolby Laboratories had a return on equity of 11.47% and a net margin of 17.85%.The firm had revenue of $395.63 million for the quarter, compared to analysts' expectations of $385.80 million. During the same period in the previous year, the firm posted $1.34 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. Dolby Laboratories has set its FY 2026 guidance at 4.300-4.450 EPS and its Q3 2026 guidance at 0.560-0.710 EPS. As a group, sell-side analysts expect that Dolby Laboratories will post 3.21 earnings per share for the current year.

Dolby Laboratories Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company's core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby's licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.

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