Martingale Asset Management L P Acquires Shares of 191,331 Dolby Laboratories $DLB

Key Points

• Martingale Asset Management L P has invested approximately $15.37 million in Dolby Laboratories, acquiring 191,331 shares, reflecting a stake of about 0.20% of the company.
• Dolby Laboratories reported better-than-expected earnings with an EPS of $0.78 and revenue of $315.55 million for the last quarter, exceeding analyst expectations.
• The company also declared a quarterly dividend of $0.33, which represents an annual yield of 1.8%, with a payout ratio of 48.35%.

Martingale Asset Management L P purchased a new position in Dolby Laboratories (NYSE:DLB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 191,331 shares of the electronics maker's stock, valued at approximately $15,366,000. Martingale Asset Management L P owned approximately 0.20% of Dolby Laboratories as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Candriam S.C.A. purchased a new stake in Dolby Laboratories in the first quarter worth approximately $2,302,000. Capital Fund Management S.A. purchased a new stake in shares of Dolby Laboratories during the 1st quarter valued at about $2,923,000. Northern Trust Corp lifted its stake in shares of Dolby Laboratories by 15.0% in the 1st quarter. Northern Trust Corp now owns 669,406 shares of the electronics maker's stock worth $53,760,000 after purchasing an additional 87,402 shares during the period. Versor Investments LP purchased a new position in shares of Dolby Laboratories during the 1st quarter worth $1,774,000. Finally, Algert Global LLC purchased a new stake in shares of Dolby Laboratories in the 1st quarter worth $1,429,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Price Performance

Shares of DLB stock traded up $2.7490 during mid-day trading on Friday, hitting $75.5890. 569,556 shares of the stock traded hands, compared to its average volume of 410,055. The stock's fifty day moving average is $74.32 and its two-hundred day moving average is $76.61. Dolby Laboratories has a 52-week low of $68.24 and a 52-week high of $89.66. The stock has a market cap of $7.24 billion, a P/E ratio of 27.69 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly 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. The business had revenue of $315.55 million for the quarter, compared to analyst estimates of $305.23 million. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The business's revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. 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, equities analysts forecast that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, August 12th. Dolby Laboratories's payout ratio is presently 48.35%.

Analyst Ratings Changes

DLB has been the topic of a number of analyst reports. Wall Street Zen cut shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Rosenblatt Securities reissued a "buy" rating and set a $95.00 price objective on shares of Dolby Laboratories in a report on Friday, August 1st. Barrington Research reiterated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, 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 note on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $103.00.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 39,875 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $8,583,724.50. This trade represents a 25.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 15,000 shares of the firm'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 directly owned 62,397 shares in the company, valued at approximately $4,681,022.94. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,049 shares of company stock worth $10,521,141 over the last three months. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories 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.