Lecap Asset Management Ltd. Buys New Shares in Dolby Laboratories (NYSE:DLB)

Lecap Asset Management Ltd. bought a new position in Dolby Laboratories (NYSE:DLB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,254 shares of the electronics maker's stock, valued at approximately $502,000.

Several other hedge funds and other institutional investors also recently modified their holdings of DLB. Park Avenue Securities LLC bought a new stake in shares of Dolby Laboratories during the 1st quarter valued at about $222,000. AlphaQuest LLC grew its position in shares of Dolby Laboratories by 111.1% during the 4th quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker's stock valued at $480,000 after buying an additional 3,235 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of Dolby Laboratories during the 4th quarter valued at about $308,000. Twin Tree Management LP bought a new stake in shares of Dolby Laboratories during the 4th quarter valued at about $662,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Dolby Laboratories during the 4th quarter valued at about $1,872,000. Institutional investors own 58.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DLB. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd. Tigress Financial began coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, June 13th. Finally, Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, May 30th.

Insider Buying and Selling at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares of the company's stock, valued at approximately $4,681,022.94. This represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 33,683 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $76.22, for a total transaction of $2,567,318.26. Following the completion of the sale, the chief executive officer now directly owns 114,725 shares of the company's stock, valued at approximately $8,744,339.50. This represents a 22.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,358 shares of company stock valued at $5,593,770 in the last ninety days. Company insiders own 38.39% of the company's stock.

Dolby Laboratories Trading Down 0.9%

Dolby Laboratories stock traded down $0.69 during midday trading on Friday, reaching $74.13. 560,731 shares of the stock traded hands, compared to its average volume of 453,664. The firm has a fifty day moving average price of $74.98 and a two-hundred day moving average price of $78.11. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 27.97 and a beta of 0.93. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. The firm had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. Dolby Laboratories had a net margin of 19.44% and a return on equity of 11.48%. Dolby Laboratories's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 EPS. Analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, May 13th. Dolby Laboratories's payout ratio is 49.81%.

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.