Magnetar Financial LLC Boosts Holdings in Dolby Laboratories $DLB

Key Points

• Magnetar Financial LLC significantly increased its stake in Dolby Laboratories, raising its holdings by 456.9% to a total of 20,682 shares valued at approximately $1.66 million.
• Several other institutional investors have also increased their positions in Dolby, with 58.56% of the stock now owned by hedge funds and institutional investors.
• Despite a recent decrease in stock price, Dolby Laboratories received upgrades from analysts, with the stock being rated a "buy" with an average target price of $103.00.

Magnetar Financial LLC grew its holdings in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 456.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,682 shares of the electronics maker's stock after buying an additional 16,968 shares during the period. Magnetar Financial LLC's holdings in Dolby Laboratories were worth $1,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DLB. Palogic Value Management L.P. increased its position in Dolby Laboratories by 6.4% during the 4th quarter. Palogic Value Management L.P. now owns 3,888 shares of the electronics maker's stock valued at $304,000 after purchasing an additional 235 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Dolby Laboratories by 10.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 3,448 shares of the electronics maker's stock valued at $269,000 after buying an additional 334 shares during the period. Voya Investment Management LLC lifted its holdings in Dolby Laboratories by 157.3% in the fourth quarter. Voya Investment Management LLC now owns 20,539 shares of the electronics maker's stock worth $1,604,000 after buying an additional 12,558 shares during the period. Northern Trust Corp boosted its position in Dolby Laboratories by 5.6% during the 4th quarter. Northern Trust Corp now owns 582,004 shares of the electronics maker's stock valued at $45,455,000 after acquiring an additional 30,826 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Dolby Laboratories by 98.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 12,300 shares of the electronics maker's stock worth $961,000 after acquiring an additional 6,102 shares during the period. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Stock Up 0.4%

Shares of NYSE DLB traded up $0.29 during midday trading on Thursday, hitting $72.65. The stock had a trading volume of 165,863 shares, compared to its average volume of 432,369. The company has a market cap of $6.96 billion, a P/E ratio of 26.59 and a beta of 0.93. The business's 50 day moving average is $74.14 and its 200-day moving average is $76.03. Dolby Laboratories has a 52 week low of $68.24 and a 52 week 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The company had revenue of $315.55 million during the quarter, compared to analyst estimates of $305.23 million. During the same period in the previous year, the business earned $0.71 EPS. The firm's revenue for the quarter 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. As a group, analysts expect that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

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

Insider Transactions at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 39,875 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total transaction of $2,983,447.50. Following the sale, the chief executive officer owned 114,725 shares of the company's stock, valued at $8,583,724.50. This trade represents a 25.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories 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 sale, the senior vice president owned 70,435 shares of the company's stock, valued at $5,276,990.20. This 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 133,049 shares of company stock valued at $9,920,281. 38.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DLB shares. 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. Tigress Financial raised their price objective on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Finally, Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Dolby Laboratories currently has an average rating of "Buy" and a consensus target price of $103.00.

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.